IN THE NEWS: Hill Times - Scrap tax exemption ‘loophole’ causing ‘erosion’ of rental affordability: housing advocates

The existing corporate tax exemption makes real estate investment trusts (REITs) especially attractive to investors, said Steve Pomeroy, a housing policy consultant and professor of industry at McMaster University. He said the big-picture result has been the “erosion” of affordable rental units over the years as large corporate landlords have used this “much larger pool of capital” to buy older apartment buildings, renovate vacant units, and raise rents.

NDP MP Jenny Kwan (Vancouver East, B.C.) said whether these measures make it into the budget “remains to be seen, but the NDP is absolutely calling for the government to take action.” She described the corporate tax exemption as “a tax loophole” that benefits investors at the expense of renters.

https://www.hilltimes.com/2022/04/06/scrap-tax-exemption-loophole-causing-erosion-of-rental-affordability-housing-advocates/354640

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Van Sun: B.C. MPs echo mayors, solicitor general on need for port police force

East Vancouver MP Jenny Kwan told Postmedia that she thinks port police should be restored on the waterfront.

Kwan, who has a container terminal in her riding, said when the force was disbanded in 1997, she was an MLA and very critical of the decision.

“The port police should never have been disbanded. There are definitely ongoing implications,” Kwan said. “The port is the gateway for illegal activities in terms of people shipping illegal goods in and out. … that’s definitely an ongoing concern.”

“We absolutely support minister Farnworth and the municipalities’ call for the federal government to step back up and show leadership in addressing this concern and to fund the port police.”


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