BC Liberals call on Horgan’s NDP to rule out new Home Equity Tax

BC Liberal Party

FOR IMMEDIATE RELEASE
August 5, 2020

Letter attached

VANCOUVER-FRASERVIEW – BC Liberal candidate David Grewal is calling on John Horgan’s NDP to reject a new Home Equity Tax proposed by one of the key architects of their policy agenda.

The recent proposal for a new tax on homeowners comes from Dr. Paul Kershaw of UBC’s Generation Squeeze project. Kershaw is responsible for several signature NDP policies, including the $10-a-day childcare platform promise the government has failed to deliver.

“New and higher taxes, including the proposed Home Equity Tax, are the last thing British Columbians need right now,” wrote David Grewal, BC Liberal candidate for Vancouver-Fraserview, in a letter to Horgan. “We need a recovery driven by private sector entrepreneurship and innovation – and a government that makes life more affordable for British Columbians.”

Kershaw isn’t the only NDP-aligned voice calling for new and higher taxes. The Canadian Centre for Policy Alternatives, an influential left-wing think tank, is advocating for higher taxes as the key to economic recovery from the pandemic. And the BC Greens, who hold the balance of power in the Legislature, proposed a similar home equity tax in their 2017 campaign platform.

“With BC’s deficit and debt skyrocketing, my concern is the NDP’s first instinct will be to find new ways to tax British Columbians,” Grewal added. “What we need instead is a solid economic recovery plan that gets us back on track for prosperity and growth so we can pay for strong public services – and that’s what Andrew Wilkinson and the BC Liberals will deliver.”

Grewal noted that the proposed Home Equity Tax comes at a time when over a million BC condominium and townhouse residents are already struggling to make ends meet because of skyrocketing strata insurance rates – another problem where the NDP government has utterly failed to act.

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Contact:

Deanie Wong
778-994-5083
deanie.wong@bcliberals.com

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