Petition launched against Liberals' condo bailout
The petition argues that if developers' latest units go unsold, that failure should fall solely upon them and not the Canadian taxpayer.
Conservative MP Dan Albas has sponsored a petition opposing the Carney government’s $1.45 billion proposal to bail out condo developers in the Metro Vancouver area who are currently stuck with unsold units.
“Federal tax dollars are paid by Canadians across the country and should not be used to protect Vancouver-area condominium developers, investors or lenders from losses created by speculative over-building, inflated land values, weak demand or failed market assumptions,” reads the petition, first reported on by Blacklock’s Reporter.
