B.C. Green Party Proposes Ban on Foreign Ownership of Farmland

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B.C. Green Party Leader and Oak Bay-Gordon Head MLA  Andrew Weaver is calling for a ban on the foreign ownership of designated farmland in British Columbia.

In early August of 2016, the B.C. Liberal government imposed a 15 per cent tax on foreign buyers. Weaver says this earlier tax had only a short term impact on speculative buying in the Lower Mainland and didn’t go far enough to stop speculative investment in other areas where the tax isn’t imposed, namely farmland.

Weaver says foreign nationals are now looking at land zoned for agricultural use as an investment opportunity.

“A safe haven for that investment is property lands, particularly large swaths of land, in British Columbia,” said Weaver during an interview with On the Island.

Read full article here.

Matt Humphrey – CBC News – Aug 25, 2017.

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