BC Election 2017: BC Liberals and housing in detail

Apr 20 2017, 5:09 am

Ahead of the 2017 BC election, Daily Hive has produced a range of guides to the key issues affecting young voters. To find all the guides and our full BC Election coverage, click here: Battleground BC.

Housing is at breaking point in Vancouver. And as we head towards the BC Election on May 9, it is a major issue faced by BC’s political parties.

All three parties have their own plan to deal with housing. Here’s what the BC Liberals told Daily Hive about their strategy.

“Today’s BC Liberals know that affordable housing is a critical issue for many middle class families, that’s why we’ve taken strong action to keep home ownership within reach for the middle class.”

The BC Liberals plan to invest $700 million in the BC HOME Partnership program, offering mortgage downpayment loans to more than 42,000 first-time homebuyers over three years.

They would also raise the First Time Home Buyers’ Program tax exemption, so eligible buyers would pay no property transfer tax on the first $500,000 of the home’s value.

The BC Liberals have also pledged to work with municipalities to speed up permitting, in hopes of increasing housing supply.

As well, they plan to expand the Home Renovation Tax Credit to include people renovating their home to include a secondary suite.

Finally, the BC Liberals say they will continue supporting the Rental Assistance Program and Shelter Aid For Elderly Renters to help low income renters make rent.

To find more guides to all the issues and our full BC Election coverage, click here: Battleground BC.

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