Shady corporate tax giveaways exploded under Christy Clark’s Liberals

A once minor tax incentive program exploded under the BC Liberals into a massive and opaque tax giveaway for wealthy companies - including major BC Liberal donors.

Ministry of Finance figures show that the BC Liberals have given away at least $240 million since 2001 under the program, which became the subject of a scathing New York Times article.

Originally called the International Financial Business Tax Refund, Budget 2001 estimated the cost at $2 million. But after the BC Liberals repeatedly expanded the program in budget after budget, costs have ballooned to a projected $25 million for 2017/18, an increase of 1150%.

Source: Budget Fiscal Plans, BC Ministry of Finance

AdvantageBC, which administers access to the program, refuses to release information on who is receiving the tax breaks and how much they receive. But the shady program has been linked to companies that have made large donations to the BC Liberals and to a company that has been named by the US as an international criminal organization. Court records reveal that TD Bank, which made $8.9 billion in profits last year, qualified for a tax refund of $2.8 million under the program.

In spite of the massive size of the handouts given by the BC Liberals under the program, the New York Times reports that government figures suggest it had created fewer than 300 jobs - possibly as few as 122.

In light of these figures, Christy Clark deserves British Columbians some answers from Christy Clark:

  • Why have you expanded this program by over 1000% with no transparency and no results for British Columbians?
  • Why won’t you tell British Columbians which companies have received these giveaways?
  • How much money has gone to BC Liberal donors?