2024 British Columbia Election: Key Economic Policies of Main Political Parties

In the lead up to the 2024 provincial elections in British Columbia, the three main political parties—the B.C. New Democratic Party (NDP), the B.C. Conservatives, and the B.C. Green Party—have outlined their positions on economic policies, responding to a survey by 23 business and trades organizations in the province.

The NDP has highlighted its record in boosting B.C.’s direct capital investment by 90% compared to previous administrations. The party, under the leadership of David Eby, promises to further stimulate economic growth by expediting permit processes for the mining and natural resources sectors, and fostering investments in manufacturing, such as the Vitalus dairy plant. The NDP also aims to reduce costs for businesses and increase skills training to support employment.

The B.C. Conservatives, led by John Rustad, propose to cut taxes and reduce regulatory burdens as a way to enhance business investment and job creation. Their focus will be on promoting industries like LNG, mining, and forestry to improve productivity and create jobs. The Conservatives aim to eliminate the carbon tax and simplify the regulatory process through a “one project, one permit” system.

The B.C. Green Party, headed by Sonia Furstenau, emphasizes the need to reduce market power consolidation and enhance competition to benefit businesses and consumers. The Greens advocate for empowering small and medium-sized businesses, creating fair tax systems, and fostering clean energy sectors. They propose to maintain the carbon tax while ensuring its fair application across the board.

Regarding infrastructure and services, the NDP commits to major investments in schools, roads, housing, and hospitals to support the province’s rapid growth. They are also prioritizing resource development, balancing environmental standards with economic growth, and striving for partnerships with First Nations for mutual benefit.

The Conservatives are focused on efficient fiscal management by conducting spending reviews and improving service delivery without compromising essential services. They plan to build stronger economic partnerships with Indigenous communities for resource development.

The Greens, while critical of current infrastructure outcomes, aim to transition B.C.’s economy from one reliant on raw materials to a clean-tech and services-based model. Implementing regulatory certainty and supporting sustainable industries are central to their approach.

In addressing public safety, the NDP is investing in law enforcement and specialized teams to tackle crime, including new measures for mental health care. Conversely, the Conservatives plan to revise decriminalization policies and enhance legal measures to curb crime. The Greens emphasize comprehensive police reforms as outlined in their 2022 report.

Housing continues to be a hot-button issue, with the NDP focusing on removing development barriers and using public land for affordable homes. Conservatives advocate for increased housing supply via deregulation, alongside significant tax cuts for renters and homeowners. The Green Party calls for investment in non-market housing and protection of affordable rental units.

Health care reforms are on the agenda for all parties, with the NDP aiming to expand access through more medical personnel and new facilities. The Conservatives propose a “patients first” model integrating public and private options. Meanwhile, the Greens strive to establish community health centres for comprehensive primary care.