Making his first big policy announcement, BC NDP leadership hopeful David Eby detailed his plan to address housing in the province..Speaking in North Vancouver Wednesday, the former housing minister and attorney general says if he’s to become premier he’ll fast-track affordable, middle-class housing in urban and rural areas as well as implement a flipping tax on the sale of residential properties..He'll also bring in a "provincial tax enforcement team" to pinpoint suspicious real estate transactions..“Housing should first and foremost provide homes for people, not profits for investors,” said Eby.."We’ve made progress by taxing speculation and building thousands of new homes, but across this province I see the desperate need to do much more to bring down the costs of housing.”.Eby’s campaign says the goal is to prevent flipping rather than “generate revenue to a select few,” reiterating there will be notice in advance of implementation to allow people to sell their investment properties and increase housing supply in the market..“Because this is designed to discourage real estate speculation, any revenue will go back into building homes for British Columbians,” reads a campaign notice..Exemptions from the tax will be offered for circumstances such as death, disability, employment loss, and more, and the tax will be highest for those who hold properties for the shortest amount of time and phases out after two years..Builders are also exempt in an effort to encourage housing construction..Eby says he’ll legalize secondary suites in every region of the province and allow developers to replace single-family homes with up to three units, as long as they’re consistent with existing setbacks and height requirements..Reforms to municipal approvals processes will be implemented under an Eby government and provincial permitting for housing will be “one-stop and simplified.”.Under his proposed “BC Builds” plan, Eby says he’ll substantially expand the provincial government’s role in facilitating the delivery of middle-class homes which he says “people can actually afford.”.The plan will work with indigenous and city governments, private and non-profit partners across the province to offer rapid approvals, increased density, land, and construction financing to deliver multi-family housing developments which Eby says will offer “attainable” middle-class housing for a range of incomes, whether it be rental or purchase..The Vancouver-Point Grey MLA promises $500-million in capital funding to jump start a rental housing acquisition strategy to provide one-time capital grants so non-profits can purchase rental buildings listed for sale — a move Eby says will protect the renters from displacement..The Cullen Commission recommendations to create a new enforcement tool allowing investigations into suspicious real estate transactions will also be implemented by Eby, meaning suspected criminals purchasing properties will have to explain where their money came from..READ MORE: BC money laundering report finds no evidence of corruption.Properties purchased with the proceeds of crime will be seized and redirected towards public programs and a new “provincial tax enforcement team” will identify those who declare poverty-level incomes while buying multi-million dollar homes, a move his campaign says will close loopholes enabling billionaires and corporations to avoid taxes..“This undertaking will require all hands on deck, everyone working towards a shared mission and using every tool available to get results for people,” said Eby..“I’m ready to tackle these big challenges because at the end of the day, people are counting on us.”.The BC Liberals have yet to release an official response to Eby's proposals, however some members of the opposition party have vocalized their discontent on social media.."David Eby's housing plan is interesting in that it sounds much like a new incoming government announcing a new plan after recognizing the previous plan was a total failure — ironically in this case the old plan was also authored by David Eby," said Dan Ashton, BC Liberal MLA representing Penticton.
