BC NDP Proposes Higher Taxes on Top Earners to Raise $1 Billion Annually

British Columbia Premier David Eby announced a BC NDP proposal to raise provincial income taxes on high earners during a rally in Victoria on Sunday evening. The plan would increase rates for the existing top two tax brackets by two percentage points and introduce a new bracket for taxable income exceeding $1 million, taking effect in the 2027 tax year if the party wins the October 24 provincial election.

Under the proposal, the tax rate for incomes between $190,405 and $265,545 would rise from 16.8% to 18.8%, while the rate for incomes between $265,545 and $1 million would increase from 20.5% to 22.5%. A new 24.5% rate would apply to income above $1 million. The party estimates the changes would affect only the top 3.88% of income earners, leaving over 96% of British Columbians without a tax increase.

“We want everyone to prosper in British Columbia. We celebrate when families and businesses here are successful. But when people are struggling, we think that it's fair to ask those at the top to pitch in a bit more so we can make it possible for everyone to get ahead.”

The NDP projects the measures would generate $225 million in the 2026/27 fiscal year, $925 million in 2027/28, and $1 billion annually by 2028/29. Eby stated the revenue would fund health-care improvements and help lower costs for residents, arguing it is fair to ask those at the top to contribute more when others are struggling.

During the same event, Eby reiterated other campaign promises, including a cap on profit margins for essential groceries such as eggs, cheese, milk, and poultry. He also pledged to ban restrictive property deals that prevent smaller independent grocers from opening near larger competitors.