Andrew Weaver urges government to bring in taxes for real estate speculators and flippers

B.C. Green Party Leader Andrew Weaver released a policy statement Wednesday urging the government to implement both a real estate flipping and speculators tax in next month's provincial budget.

Weaver outlined his party'swish list for improving housing affordability in the province at a news conference in Vancouver.

"Despite significant evidence of the role of speculation in driving up prices, government has failed to act on the demand side," said Weaver.

The paper says international and domestic speculators are treating the province's housing stocklikecommodities to be bought, sold and tradedfor profitthat pricespeople with average incomes out of the market.

"Our policies place an emphasis on curbing speculation and the role of global capital in our housing market," said Weaver.

The paper also calls on the NDP toallow local governments to bring in their own vacant homes tax and to allowfor more regulations and restrictions on short term rentals likeAirbnb.

On the rental front, the Greens want more supply to be freed upand for new supply to meet the needs of British Columbians, "not wealthy speculators," and suggested the province rethink zoning in areas along transit lines to create rental-only housing.

Weaver said the Greens will keep up the pressure ongovernment to deliver on hisparty'srecommendations.

Premier John Horgan has said his government will reveal new housing policies in its first full budgetFeb. 20.