THE BC Liberals said on Tuesday that as British Columbians struggle to make ends meet during an affordability crisis made worse by rising inflation, the NDP government is reporting a surplus of $1.3 billion, made possible by increased tax revenue.

“While people all over B.C. are struggling to afford basic necessities like gas, groceries, and housing, this NDP government is raking in billions in extra tax revenue and all but refusing to provide any relief,” said Peter Milobar, BC Liberal Finance Critic.

“This is a government that came to power on the promise of making life more affordable, but here we are five years later, life has never been less affordable, and the NDP have money sitting in the bank when they could be using it to help support people. For months our BC Liberal Caucus has been calling on government to provide inflation relief, and yet the NDP has repeatedly failed to deliver. This government is clearly out of touch with the current reality facing British Columbians.”

The BC Liberals noted that the NDP achieved a $1.3 billion surplus for the 2021/22 fiscal year, compared to a $9.7 billion projected deficit in the budget. The surplus was primarily due to extra revenues, including an increase of over $1.3 billion to the property transfer tax as housing prices hit new all-time highs. Months ago, Premier John Horgan told people he would bring forward initiatives to assist with inflation, but this relief has yet to materialize. Meanwhile, the NDP has ignored the BC Liberal suggestion to temporarily suspend gas taxes and provide people with one-time relief through the Climate Action Tax Credit.

“Not only is this government failing to provide support when they have the means to do so, but they are actually profiting off the affordability crisis, bringing in over $1.3 billion in increased property transfer tax revenues from rising housing prices,” said Milobar. “However, as home prices and rents skyrocket, David Eby’s long-promised $400 annual renter’s rebate is nowhere to be seen, despite costing just a fraction of the NDP surplus. It’s clear that making life more affordable is no longer a priority of this NDP government, and at a time when it is most needed, they have abandoned their promises to support people.”