Falcon would eliminate speculation and vacancy tax that’s opened up 18,000 units for rent: NDP

THE NDP on Wednesday slammed BC Liberal leadership candidate Kevin Falcon pointing out that as annual declaration notices are mailed out to British Columbians for the speculation and vacancy tax, he continues to campaign on eliminating it.

The NDP said that Falcon, who has worked for real estate developer Anthem Properties since leaving politics in 2013, has spoken against their government’s tax on vacant homes numerous times, including at BC Liberal Leadership debates.

The party noted that the speculation and vacancy tax discourages speculation that inflates home prices and it turns empty houses into homes, including 18,000 condos in Metro Vancouver according to a 2021 CMHC report.

The NDP added that more than 99.9% of British Columbians are exempt from paying the tax, which has generated $231 million over the last three years to be invested into building homes for people. During the same period the BC NDP government has invested almost $2.8 billion in housing in the five regions covered by the speculation and vacancy tax.