BC United promises biggest income tax cut in province's history

BC United Leader Kevin Falcon is promising to bring in the biggest income tax cut in the province's history if his party forms government.

The party says it would cut the provincial income tax on the first $50,000 an individual earns each year, something Falcon says will eliminate the tax entirely for 2.4 million people.

"BC United’s tax cut policy would immediately be reflected in higher paycheques for folks across the province who are struggling right now. Only BC United will create a more affordable British Columbia,” Falcon said in a media release.

In a backgrounder, BC United breaks down how much money this cut would put back in people's pockets. For someone earning $35,000 per year, not paying the tax would save them $1,134. For someone earning $50,000 the amount would be $2,052. Someone making more than $50,000 would also see $2,052 in savings "but those earning less receive the biggest percentage," according to BC United.

The cut is projected to cost $5.4 billion annually.

"However, the expected increase in economic activity, consumer spending, and job creation is anticipated to offset a significant amount of the revenue loss," the party said.

BC United, currently the official Opposition, has been trailing in the polls in the lead-up to October's election, with most putting them behind the BC Conservatives and the governing NDP. The party has also lost several incumbent MLAs to the BC Conservatives.