Thursday June 5, 2025
For Immediate Release
NDP’s CleanBC 2.5 Times Worse for B.C. Economy Than Trump’s Tariffs
SURREY – A new report released today by ICBA Economics delivers a blunt assessment of the economic cost of the B.C. Government’s CleanBC plan, and the findings are deeply troubling. The report finds that Donald Trump’s renewed tariff war (along with Canadian retaliatory tariffs) could carve $42.9 billion out of B.C.’s GDP by 2029 – but the CleanBC plan will strip away more than double that amount, $109.7 billion, in economic activity over the same period.
“CleanBC is a completely self-inflicted body-blow to B.C.’s economy,” said Chris Gardner, President and CEO of the Independent Contractors and Businesses Association (ICBA), which commissioned the report by ICBA Chief Economist Jock Finlayson and Consulting Economist Ken Peacock. “The NDP government is warning British Columbians about the economic damage of President Trump’s tariffs – and rightfully so. But their own CleanBC plan is doing 2.5 times more damage to our economy.”
The report draws on the Ministry of Finance’s own economic modelling and provides a detailed analysis of how escalating CleanBC policy and regulatory impacts are hitting many B.C. industries, including construction, natural gas, manufacturing, mining, forestry, and transportation.
“We support smart, balanced climate policy. But CleanBC isn’t that,” said Gardner. “It seems more effective at emptying the wallets of hardworking families and cleaning out provincial coffers than it is at cleaning the air or water.”
The ICBA report warns that B.C.’s rapid, ineffective and unbalanced decarbonization strategy is undermining competitiveness, increasing costs for housing and infrastructure construction, and deterring private-sector investment in land-based industries, as well as in parts of manufacturing.
“If we want to attract investment and jump-start our stalled economy, we need to do things differently – rethinking CleanBC and building a pro-growth business climate would be a smarter way to fight Trump’s harmful trade policies. Otherwise, jobs, investment, and opportunity will simply go elsewhere,” said Gardner.
The report also analyzes the economic impact of the NDP’s recent announcement that it will scrap the consumer-facing carbon tax. This step, while positive, will have little overall effect on the economic cost of the CleanBC program, which includes more than 20 other measures other than carbon taxation. “It’s a start and provides some relief for taxpayers, but our analysis shows we need more and fast – it won’t move the economic needle in a significant way. What’s holding our economy back is rising industrial carbon taxes, emissions caps and the many other regulatory measures embedded in CleanBC,” Gardner said.
ICBA is calling on the provincial government to expand its CleanBC review panel’s mandate to include a full economic impact and cost-benefit analysis.
“British Columbians are being asked to pay more and get less – less prosperity, fewer jobs, and slower economic growth,” said Gardner. “We need a sensible climate plan that also supercharges our economy. Right now, CleanBC is failing on both fronts.”
Download the full report HERE.
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About ICBA
The Independent Contractors and Businesses Association (ICBA), is the largest construction association in Canada, representing more than 4,500 members and client companies. ICBA is one of the leading independent providers of group health and retirement benefits in western Canada, supporting more than 300,000 Canadians. ICBA is also the single largest sponsor of trades apprentices in British Columbia. www.icba.ca
For more information or to arrange an interview, please contact:
Chris Gardner
President and CEO, ICBA
ch***@ic**.ca or 604-761-4905
Jock Finlayson
Chief Economist, ICBA
jo************@ic**.ca or 604-218-4783
Jordan Bateman
VP-Communications, ICBA
jo****@ic**.ca or 604-999-3319
