Kyle Geronazzo: “Speculation Tax gets West Kelowna Fired Up”

Speculation Tax gets West Kelowna Fired Up

 

I recently ran for MLA in the 2018 Kelowna-West By-Election for the BC Libertarian Party. We’re a growing political movement founded on the principles of individual rights and small government.

The Speculation Tax is yet another NDP cash-grab that’s somehow supposed to make housing affordable by taking more of our money. While many of us (myself included) are not in a position where we own the house we live in, I don’t think we should allow Horgan to take money from someone else if they happen to own two or more. As mentioned by West Kelowna Mayor Doug Findlater, “people who picked up a modest place on the lake 20 years ago and kept it in the family are not going to be able to afford to keep them.”

When we first heard about the Speculation Tax, it was only supposed to apply to foreign investment. We’re seeing just how well the NDP stick to their word. If the Speculation Tax is passed, many, including Mayor Findlater, believe we will end up seeing a large market fluctuation with many homes flooding the market. While I’m certainly no economist, I vividly remember what happened to the BC economy the last time we had more homes on the market than buyers.

The good news is that there’s a growing backlash against the tax and even some municipalities are joining in. West Kelowna City Council has unanimously voted in favour of sending the mayor to pressure the BC Government to allow West Kelowna to opt out.

What we need right now is for more municipalities to stand up to Horgan’s cash-grab. If we build enough pressure there’s a chance that the NDP may back down.

So, please contact your municipal government and express that you would like to see them opt-out of this cash grab like Mayor Findlater hopes to do soon if you feel the same way I do.