NDP wealth tax would raise $94.5B, pay for worker tax cut and health-care improvements | CBC News

The New Democratic Party is promising to raise about $94.5 billion by taxing the extremely wealthy, a plan designed to help finance tens of billions in new spending, deliver a tax cut for workers and bolster and expand Canada's health-care system.

"I'm proud to share our campaign commitments. It's clear. It's bold. And it's focused on the people who build this country," said NDP Leader Jagmeet Singh as he unveiled the party's platform at a campaign event in Burnaby, B.C., on Saturday morning.

The NDP says those commitments will add $48 billion to the federal deficit over the next four years on top of the existing deficit. The party also says $43.2 billion is new spending not offset by revenue.

In the fall economic statement, the Liberal government of former prime minister Justin Trudeau projected the deficit in 2025-26 would sit at $42.2 billion. That was projected to drop to $31 billion in 2026-27, $30.4 billion in 2027-28 and $27.8 billion in 2028-29.