B.C. NDP and Conservatives get 'failing grade' for fiscal reality, says economist

Lorne Doerkson, leader of the Conservative Party, and David Eby, NDP leader, in the background, attend the Vancouver Board of Trade event Oct. 13. Photo by NICK PROCAYLO /PNG

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Neither the NDP nor the B.C. Conservatives have a clear plan for dealing with B.C.’s record deficit as it seems they rely on economic projections that don’t reflect fiscal reality, says one economist.

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Werner Antweiler, an economics professor at the UBC Sauder School of Business, said both parties need to be more transparent that there will likely be cuts or tax increases in the coming years.

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“Both parties get a failing grade from me for fiscal stewardship. Those plans are fiscally unsound because they do not take fully into account that you need either heroic assumptions about economic growth to shrink the deficit, or you actually have to go and either raise revenue or cut expenditures,” said Antweiler.

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“Something’s got to give here and the true, honest answer to British Columbians is that there’s going to be some pain-making adjustments.”

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In their costed platform, released Sunday, the Conservatives promised savings through the elimination of the NDP’s CleanBC climate plan, the cancellation of contracts with highly paid consultants, and attrition of non-front line workers. They project a deficit of $10.8 billion in 2029-30.

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That is despite a projected income tax cut, which will allow British Columbians to make up to $32,000 before paying any tax, and the elimination of bureaucratic red tape to allow the economy to grow by 2.5 per cent in 2027, 2.8 per cent in 2028 and 3.2 per cent in 2029.

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B.C. Conservative leader Lorne Doerkson at CRAB Park in Vancouver on Sept. 22, 2026. Photo by Arlen Redekop /PNG

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The Conservatives expect growth to bring in $2.6 billion over three years, with cuts saving another $11.7 billion over four years, including $7 billion from the holding back of contingencies and just over $2 billion from public sector attrition.

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On the other side of the ledger, the tax cut alone is projected to cost $2.9 billion annually, although one tax expert said it could cost as much as $4 billion per year. Other big promises include $350 million for seniors care and $205 million for health care.

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The Conservatives project new operational spending of $1.08 billion over four years to go with their $2.9 billion tax cut, for just under $4 billion of new spending.

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The NDP say the Conservative platform doesn’t include the cost for promises like the temporary removal of the PST on Canadian liquor, estimated to be $280 million, the building of a new women and children’s hospital in Surrey, and the creation of a Filipino cultural centre in Vancouver.

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Adrian Dix in April. Photo by NICK PROCAYLO /PNG

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Adrian Dix, NDP candidate for Vancouver-Renfrew and former energy minister, accused Conservative interim leader Lorne Doerkson of hiding cuts to services like health care and wildfire fighting by saying it would create savings through the removal of money from the budget’s contingency fund.

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“Contingencies mostly fund health care caseload pressures and unavoidable expenses such as wildfire fighting costs, and contingencies are critical to ensure the health care system is fully funded for the entire year,” Dix said Monday.