British Columbia budget announcements

  • Projects budget surplus of C$219 million in 2018/19, sixth consecutive balanced budget
  • Gov't says will increase foreign buyer tax on housing to 20 pct, widen to include more cities
  • To impose speculation tax on value of housing, 0.5 pct in 2018, rising to 2 pct in 2019
  • To spend C$1.6 billion over three years on increasing affordable housing supply
Another weight added to Canada housing prices. At least in one province.

(those Headlines via Reuters)