May 12, 2005
Today Statistics Canada released its annual survey of after-tax family incomes for the 2003 calendar year.
The results of this update are crystal clear – British Columbia’s families have more money in their pockets under the BC Liberals than they ever did under the NDP.
Highlights of this year’s update include:
- Under the BC Liberals’ term, on average, British Columbians’ after-tax family incomes (in real 2003 dollars) are the highest they have been since 1980.
- Since 2000, British Columbia families saw the one of the largest increases in after-tax family incomes in Canada at 6.2 per cent, more than double the Canadian average of 3.1 percent and second only to Saskatchewan.
- From 2000 to 2003, after-tax family incomes in British Columbia increased by $3,400 to $58,200, an increase of 6.2 per cent. The average increase for Canadian families was $1,800, an increase of 3.1 percent.
- To compare, from 1992 to 2000 under the NDP, British Columbia was the only province in Canada to see their after-tax incomes drop. Under the NDP after-tax incomes FELL by $500 or 1 per cent, while Canada as a whole saw a GAIN of $6,100 or 11.7 per cent.
- Under the NDP (1992 to 2000), annual after tax incomes averaged $54,278. Since the BC Liberals came to office, after tax incomes have averaged $58,667 (2001 to 2003), an increase of $4,389 or 8.1 per cent – an income level not seen since 1980.
The Statistics Canada report is based on extensive surveys that examine the specific spending, taxes paid, and earnings of Canadian families. It is considered one of the most reliable indicators of the money that families have in their pockets after taxes.
Moreover, because it is a measure for 2003, we know that with further tax reductions announced in Budget 2005, British Columbians have even more money in their pockets than 2003. This is real progress for B.C.’s families.
