Falcon would cancel speculation tax that brought thousands more homes into the housing market, says Bailey

July 20, 2022 at 10:59 am  Politics, Provincial

While Finance Minister Selina Robinson acts on expert advice by expanding the Speculation and Vacancy Tax, B.C. Liberal Leader Kevin Falcon has consistently opposed the tax.

Falcon recently defended speculators who are keeping second homes vacant: “These are not speculators, these are people that have a second property and they’re being forced to pay, you know, an additional cost.”

In addition to this and other recent comments against the speculation tax, Falcon criticized it while working as a real estate executive, penning op-eds in 2018 and 2020.

B.C. Liberal MLAs have also spoken against the tax, including former Housing Critic Ben Stewart, who called it a “BC NDP tax grab on second homes.”

An expert review of the tax recently found that 20,000 more homes have been created by the policy.

B.C. NDP MLA Brenda Bailey:

“As our BC NDP government tackles the housing crisis by building more homes and fighting speculation, Kevin Falcon would cancel the speculation tax and drive prices even higher. He’s looking out for real estate speculators and would make everyone else pay the price.”

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