Although the Feds provide funds to the provinces, each province runs its own health care system, unlike the UK's , which is nationwide.
I'm not aware of any significant cuts at either the federal or provincial level since Treaudeau was elected (he's only had 1 complete budget cycle, going into his second I believe ).
As both an employee and consumer of BC health care, I'm not aware of any significant increase in wait times. Longest waits are for joint replacements and MRI's which can be a year or more. My wife and I have gotten into see specialists usually within 2-4 mos.
Anything life threatening, or potentially, (like suspected cancer) gets dealt with quickly.
We just elected an NDP (think Labour Party) provincial govt., and they are prioritizing increasing MRI centers, and operating room availability, two of the biggest factors in wait times.
The wait times affect everyone equally, with priority given to medical necessity/urgency, not, like in the US, according to whether one has a top tier coverage or junk insurance, which can determine whether you get a procedure or nothing.
Nobody goes bankrupt due to medical bills. Prescriptions are much cheaper than in the US, and with extended benefits through my employer (for dental, vision, massages, chiropractic and meds) I often pay nothing for my prescriptions, not even a copay.
Edited to add: Oh, and if you have to pay out of pocket for your MSP premium because you're retired or self employed? $124 a month for a couple. If you're unemployed or working a minimum wage ($11hr) job, you likely qualify for premium assistance/free coverage.