This morning, David Eby announced an increase to the Speculation and Vacancy Tax, which has turned 20,000 empty units into homes in the Metro Vancouver area.

John Rustad has long opposed the Speculation Tax. He has called it “a tax grab” - even though less than 1% of British Columbians pay it. He criticized the BC NDP’s focus on “curbing speculation and stopping profits made on real estate.”

A recent video shows John Rustad’s candidate, Mike Morden, promising to repeal the Speculation and Vacancy Tax - and use “an incentive approach” to ask speculators with extra homes to rent them out.

Resort communities are exempt from the tax - as is anyone who rents out their extra homes in zones where the tax applies.

Video of Morden’s comments has been posted to social media by Ravi Kahlon here. Full video of the townhall is available here.

Ravi Kahlon, BC NDP Candidate:

“We know that John Rustad has long opposed the Speculation Tax, and now his candidates are promising to repeal it. Mike Morden is even promising to give speculators incentives - so on top of the tax break, he wants to write a cheque to speculators who own extra houses. This would turn 20,000+ homes back into empty units and drive costs higher. People can’t afford that.”