Speculation Tax

Whereas the Province has proposed to implement a Speculation Tax to address housing affordability in selected regional districts and municipalities in British Columbia; And whereas this tax has been identified by stakeholder groups and targeted local governments as having negative impacts where it is proposed, including creating an unequal playing field for real estate development and property investment between jurisdictions targeted by the tax and those that are not: Therefore be it resolved that UBCM request that the Provincial Minister of Finance not implement the proposed Speculation Tax in the Regional District of Nanaimo.