A resolution asking that municipalities be given the power to opt in or out of the speculation tax has passed with near unanimous approval at the Union of B.C. The speculation tax was introduced in February's provincial budget as a way to curb speculation in the housing market. "My concerns with the speculation tax are about the potential unintended consequences, and that it won't actually address speculation," said Kelowna Mayor Colin Basran. Finance minister Carole James said she's listening but that the speculation tax. James says polls indicate there is over 80 per cent public support for the tax.

Source: CBC News September 12, 2018 23:37 UTC