MLA Adam Olsen Statement on Speculation Tax

Seeking clarity - I have heard from many constituents, particularly on the Gulf Islands, on their concerns about how the speculation tax might impact them. The legislation to implement this tax will not come until the Fall. While the government has stated there will be exemptions, they have yet to provide full clarity on what they will look like. We are seeking clarity and continuing to press the government to articulate its intended outcomes of its housing policies.

Many communities across BC are experiencing a housing crisis. We have heard from British Columbians from Vancouver to Nelson, that the housing crisis is hurting their local economies. It is driving out young people, limiting the ability of businesses to attract workers and driving up costs for businesses.

Need action on housing but must protect British Columbians

Government needs to take action on the housing crisis so that people can afford to live where they work and so that we can have a sustainable, diverse, thriving economy. The goal of the BC Greens’ housing policies is to help British Columbians struggling amidst the housing crisis, especially in cities like Vancouver and Victoria.

The problem is not British Columbians who are contributing to communities. That’s why our proposed speculation tax was specifically not targeted at British Columbians. And that’s why we proposed other policies, like a ban on foreign capital and a flipping tax, to specifically target speculative activity. My colleagues and I are in ongoing discussions with government. We are working hard to ensure that government limits any unintended consequences that could end up hurting British Columbians.

Adam Olsen, MLA
Saanich North and the Islands

March 8, 2018 12:21 PM