B.C.’s finance minister is charging ahead with the NDP government’s speculation tax, while dismissing calls from local mayors for exemptions.

Carole James introduced enabling legislation on the tax Tuesday, though it did not appear to contain any major changes municipal governments had called for.

James said that while she’s heard the concerns of mayors that the tax might deter local development projects, the speculation tax remains a critical part of her government’s plan to improve housing affordability by levelling surcharges on owners of multiple properties who leave them vacant.

“When you face a major provincial crisis like this it’s the responsibility of the provincial government to act, not to let municipalities pick and choose whether they want to address affordable housing,” said James. “Affordable housing is a crisis and it’s our responsibility as government to act on that.”

Taxing Vancouver’s Empty Homes

The ECOreport looks at a partial solution to the housing crises, taxing Vancouver’s empty homes

By Roy L Hales

Vancouver’s real estate values have skyrocketed 280% since 1986, while wages have only increased 7%. A new report shows the affordability crises impacts both renters and homeowners. The average westside home was selling for $1.4 million last May. Though 10,800 housing units have…