Apart from the consequences the new speculation tax is likely to bring, the way it is being developed is disturbing 鈥� take an ideology-based concept and toss it out there to see what happens.
Imposing a surtax on foreign-based real-estate speculators would be a reasonable measure. Such speculation is likely a factor in high housing prices and limited availability, but it is only one factor.
The sa国际传媒 NDP government cast too wide a net, going far beyond reining in speculators to snagging owners of vacation homes, people who have inherited property and those who some day plan to retire to Vancouver Island or another attractive part of sa国际传媒
In response to widespread and vociferous objections, the government is making some exemptions and other changes to the tax, but why now? How could the NDP not have foreseen the entirely predictable reactions to the tax as proposed?
In opposition, they consistently claimed they could do a better job of running the province. To prove that, they鈥檙e going to have to do better than trial balloons when it comes to formulating policy.
