2 days ago
Adam Pankratz: David Eby's CleanBC initiative a greater hit to economy than Trump's tariffs
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Open any book on politics and you will find that, in Canada, the NDP stands for the New Democratic Party. In British Columbia under David Eby, the acronym needs to be updated to — Not Delivering Prosperity.
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Since Eby and his government took over in 2022, British Columbia has been an economic basket case. The deficit projection for 2025 was revised upwards in March to $10.9 billion — a record — which followed hot on the heels of the 2024 deficit of $9.1 billion — also a record until 2025 stole the deficit crown. The result in April was a downgrade to BC's credit rating from AA to A+. By any measure, the outlook is grim, as total debt for the province is predicted to soar by 70 per cent over the next three years.
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The ruling NDP and Premier David Eby have been quick to blame economic woes on Donald Trump and his tariff policies. While tariffs are no doubt hurting B.C. — as they are all of Canada — this tactic is already tired. In truth, the damage appears to be mostly self-inflicted, caused by poor budgeting and economic policy driven by ideology rather than actual economics.
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At the B.C. Chamber of Commerce AGM on June 4th, Ken Peacock, the former Chief Economist at the Business Council of B.C., presented analysis indicating the NDP's CleanBC initiative has actually been a far greater hit to the province's sputtering economy than any tariffs. From 2019-2024 it cost B.C. $29.3 billion in lost GDP and is projected to cost the province a further $109.7 billion between now and 2029. That's David Eby's economic leadership in action: ideology torpedoing economic prosperity for hard working British Columbians.
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Eby and the NDP will of course point to the fact that they have passed Bill 14 and 15. Bill 15, the Infrastructure Projects Act, is ostensibly a bill to speed up major infrastructure project development, particularly in the resource industry. Eby and the NDP say the bills are 'critically important' to respond to a 'rapidly evolving situation' (read Trump) rather than acknowledge their need as a result of the NDP's actions in creating a provincial economic dud. Bill 15 gives cabinet sweeping powers to override existing regulations for projects in the provincial interest and fast-track them to permitting. It has been met with serious pushback from B.C. Municipalities and from First Nations who claim it ignores their voices and dismisses their rights.
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While any business which has tried to work in the province's economically critical resource sector may applaud the notion of a government finding ways to stop B.C.'s quagmire of delays and regulatory hell, the bill fails to address the real problem and merely hands unmerited power to a small group of NDP ideologues. This is always the Eby NDP way: power consolidation for decision making.
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The problem should be obvious to any free-market supporter. Bill 15 does not reignite B.C.'s economy by streamlining regulation for private enterprise; it merely allows cabinet to pick and choose which projects it will decide to ram through any further regulatory oversight. This is ripe for abuse and political interference. It is a pay-to-play system where randomness and arbitrary decisions based on cabinet whims, without clear process, will become the norm. Eby's NDP claim the bill brings investment clarity, in fact, it does anything but.
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The vague backroom modus operandi of the NDP is, however, consistent in one way. They echo the closed-door decision-making attempts and history of the NDP when deciding how the province's crown land will be used; something essential for investment and resource development. This important process has been shrouded in secrecy on multiple occasions. The latest announcement in this regard covers all of Northwestern B.C. including the mineral-rich Golden Triangle. As a result, nearly a third of British Columbia is now subject to a one year pause on new mining-tenure registrations. This is the exact of opposite of what attracts investment to the province and will send the critical dollars B.C. needs to friendlier investment regions.
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David Eby's NDP has bankrupted the province and has no plan back for the simple reason that they cannot trust the free market to do its work. They are trapped in an ideologically-driven mindset which does not permit British Columbians to make full use of their own province. This arbitrary and regressive policy must change.
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