Weaver releases B.C. Green Caucus housing policy priorities in Vancouver

January 31, 2018

VICTORIA, B.C. - Andrew Weaver, leader of the B.C. Green Party, released a summary of his Caucus’ housing policy priorities today in Vancouver. The Party’s Confidence and Supply Agreement with the B.C. NDP commits both parties to collaborate to make housing more affordable by increasing supply and dealing with the role of speculation and fraud. The policy document released today is a summary of the B.C. Green Caucus’ recommendations to government for the upcoming provincial budget.

“The affordability crisis is devastating communities across our province,” said Weaver. “In particular, despite significant evidence of the role of speculation in driving up prices, government has failed to act on the demand side. Our policies place an emphasis on curbing speculation and the role of global capital in our housing market.

“British Columbians have awaited action for far too long. It is time to move past rhetoric and get to work delivering solutions. We are putting forth realistic, evidence-based policies so that our consultations in this minority government are more transparent, and so that we can keep the pressure on government to take action.”

The full policy document is available here. The measures the B.C. Green Caucus is urging government to implement include:

Curb speculation and the impact of global capital

  • Restrict foreign purchasing of property
  • Implement a speculators tax
  • Implement a tax on flipping
  • Close the bare trust loophole
  • Close loopholes in the foreign buyers tax
  • Implement ALR restrictions

Increase the supply of affordable housing

  • Work with local governments to regulate and restrict short term rentals
  • Give local governments the ability to tax empty homes
  • Help local governments rethink zoning

Enhance financial stability for home-buyers and renters

  • Eliminate the BC HOME partnership
  • Instead of a universal “renters’ rebate”, provide means-tested support for renters

Improve transparency and data

  • Collect more data on buyers and sellers of real estate
  • Close loopholes enabling some investors to hide their identities
  • Disseminate data more freely and regularly

“Every day we are hearing stories from all corners of the province about the impact of this crisis, from young people forced to move out of province, to businesses who are struggling to pay rent and attract workers due to the cost of living,” added Adam Olsen, B.C. Green Party spokesperson for housing and municipal affairs.

“This is not healthy for our economy and it is not healthy for our communities. Our communities should be places where people from all walks of life can thrive. We will continue to push for bold action on this file so that we can ensure all of B.C.’s communities are vibrant, healthy and affordable.”


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