BC NDP Leader David Eby Promises New Millionaire Tax to Fund Health Care

British Columbia NDP Leader David Eby announced a campaign pledge on Sunday to introduce a 24.5 per cent tax rate on individuals earning $1 million or more annually, targeting the top four per cent of income earners to fund provincial health care ahead of the October 24, 2026 election.

NDP Proposes Income Tax Hike for Millionaires

• The Proposal: A 24.5 per cent income tax rate for individuals earning $1 million or more per year, up from the current top bracket of 20.5 per cent.
• NDP estimates the tax hike will generate $1 billion in revenue designated for health-care services and lowering costs.
• Conservatives argue the policy will drive doctors out of the province, while B.C. Greens claim the measure bypasses wealth generated through stocks and real estate.

Tax Structure and Revenue Projections for High Earners

NDP during a campaign stop in Comox on Vancouver Island, the province would adjust its upper income tax brackets. Incomes ranging from $190,504 to $265,545 would increase to 18.8 per cent, while brackets from $265,545 to $1 million would move to 22.5 per cent, CBC reported. Anyone earning over $1 million annually would face a 24.5 per cent tax rate on every dollar above that specific threshold.

The party maintains that these adjustments will apply to less than four per cent of provincial earners and only impact income acquired over each specified bracket. The B.C. NDP projects these structural updates will yield approximately $1 billion in incoming revenue to support the public health-care system.

Photo: Global News

Income Bracket	Proposed Tax Rate	Previous Tax Rate
$190,504 to $265,545	18.8%	Unspecified Lower Rate
$265,545 to $1,000,000	22.5%	20.5% (Previous Top Bracket)
Over $1,000,000	24.5%	20.5% (Previous Top Bracket)

Conservatives and Greens Criticize the Tax Strategy

The announcement drew immediate criticism from opposing political parties across the province. The B.C. Conservatives released a statement asserting that the tax strategy would penalize doctors and medical specialists whom communities are actively trying to recruit, potentially driving medical professionals out of the jurisdiction. Global News reported that the Conservative campaign has maintained a platform stance of never raising taxes.

Meanwhile, B.C. Greens Leader Emily Lowan criticized the focus on employment income. Lowan stated that the policy misses the mark because the ultra-wealthy primarily accumulate capital through equities and real estate rather than traditional paycheques, noting that the proposal leaves those assets untouched.

Broader Economic Context and Campaign Measures

The income tax proposal follows a series of affordability and taxation announcements made during the early phases of the provincial campaign. Times Colonist reported on ongoing housing and development challenges in the region, where construction and real estate make up roughly 28 per cent of provincial gross domestic product, while condo starts faced a 40 per cent decline in the first half of 2026.

Photo: Toronto Star

Alongside the millionaire tax pitch, Eby previously outlined plans to introduce price controls for select groceries, gasoline, and diesel, alongside a temporary 10-cent reduction on the provincial motor fuel tax. Additional housing measures discussed earlier in the campaign cycle include implementing a new tax on empty condominiums and altering the speculation and vacancy tax.

Disclaimer: The information provided in this article is for educational and informational purposes only and does not constitute financial advice.