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Weaver statement on speculation tax legislation

October 16, 2018

VICTORIA, B.C. – Andrew Weaver, leader of the B.C. Green Party, is reviewing the government’s speculation tax legislation before determining his next steps on the issue. Weaver has raised three main concerns with the speculation tax to date, namely that the tax should treat all Canadians equally, that local government need to have a more direct role, and that the tax shouldn’t unfairly target homeowners who aren’t speculators.

“I still have concerns that Canadians are not being treated equally and that there is an insufficient role for local governments in determining what happens in their communities,” said Weaver.

“Addressing the affordability crisis is a key shared priority between our Caucus and the government. We also agree that tackling speculation in our housing market is one of the best ways we can make a difference. However, I have been clear that the government’s approach on this particular piece of legislation is not the one I would have taken.

“I have been raising numerous examples of homeowners who are not speculators who are being unfairly impacted by this tax, and I will be looking to see whether government has addressed these concerns. In addition, I have raised concerns about the impact of this tax on land under development and its implementation in stratas with no-rental clauses.

“Now that the bill is before the house, I am able to review it in detail and determine a path forward. My office is in ongoing discussions with government and will explore how my concerns can be addressed.”

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