The province’s top marginal PIT rate will increase from 16.8 per cent to 20.5 per cent.
Over the next three years, net debt is expected to grow almost 25 per cent.
Ontario and Alberta are projecting budget deficits for years to come.
B.C.’s overall tax rate on new investment is 27.7 per cent—the highest rate in Canada.
The new EHT will apply to businesses with annual payrolls of more than $500,000.
Overall, the NDP added $4.4 billion in new spending over three years.
The Horgan government has effectively increased spending by an additional $4.5 billion in the first few months of its term.