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Legislature January: Buyer Ban and Press Conference

legislature january: In response to the example of New Zealand introducing a foreign buyer ban in October 2017, he said, New Zealand is a small set of islands in the South Pacific, according to Vancouver Courier. B.C. is the gateway to Canada, and I don't believe we should be curbing people coming here. Premier John Horgan told a press conference at the B.C. Legislature January 16, I just don't believe that in an open economy a non-resident buyer ban is an appropriate way to proceed.article continues below Trending Stories Body found in parked vehicle in East Vancouver Vancouver's small businesses struggle amid tax, property crunch22-year-old Ferrari driver fined for another high-speed bridge run Residents concerned about temporary' closure of Adanac overpass to private vehiclesrelated Foreign buyer debate heats up as Greens hint at ban It's a very, very aggressive agenda' Horgan I do believe we need to knock back speculation and make sure we are penalizing that behaviour in the interest of reducing demand and softening prices. He added, I'm a child of an immigrant and virtually everyone I see here is a child of an immigrant. However, the tax has likely been a factor in continued slowing price growth at the higher end of the detached-home market. The previous B.C. Liberal government introduced a 15 per cent foreign buyer tax in August 2016 on Metro Vancouver home purchases, which had the temporary effect of slowing down sales, but the market recovered within a year. ( As reported in the news.