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The new foreign property tax: Our Brexit?

July 29th, 2016 · 10 Comments

Is this tax, which I’m told the province decided to implement after looking at some pretty disastrous polling stories three weeks ago, really our version of Brexit?

Could it be our (tamer) version of the British vote where people rebelled against the prevailing tide of globalization favoured by governments and the corporate world?

(I’m not going to bother linking here to all the stories documenting the ripple effects of this tax that have unfurled in the last four days. I presume anyone here as seen them all and there are far too many. Stories about many people who had bought in pre-sales caught by this, from students due to arrive from India to Americans who had accepted jobs here. Letters from construction companies and developers about the dire impacts they are seeing. This morning, people opining that this violates NAFTA. But, wow, what a drama. A tragedy for some but, I have to say, a gift for reporters.)


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