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Kelowna  

'It's still a bad tax'

Kelowna's Chamber of Commerce says the revised real estate speculation tax is "still a bad tax."

The chamber is gearing up – again – to push back against the provincial government’s tabled spec tax legislation.

“It’s still an anti-Canadian tax, punitive to B.C. residents, detrimental to the Kelowna housing market, hurting our workers, and not based on economic studies or fact,” says chamber president Carmen Sparg. “It’s still a bad tax.”

“We agree with West Kelowna Mayor Doug Findlater’s comments when the legislation came out that ‘What this is really going to mean is less growth, less construction of all types of new housing stock, less revenue to pay for things like policing and fewer construction jobs,’” says Sparg.

The City of Kelowna noted the newly tabled legislation won't make more affordable housing units become available.

The government announced hastily written amendments forced by Green Party leader Andrew Weaver on Thursday.

The chamber calls the new amendments “window dressing at best, and no help to Kelowna and West Kelowna.”

“We’re pleased our advocacy efforts moved the needle a little on this issue, but continue to be disappointed that the government didn’t press the pause button all together,” concluded Sparg.

“Even though resolutions were passed at the B.C. Chamber and at the UBCM calling for a halt to the tax, for an economic impact study, for proof that the tax would make a difference to affordable housing – nothing changed.”



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