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Election promises that will Effect Housing in BC


Blog by Claire LeLacheur | October 7th, 2008


During election times many promises are made by all of the parties to try and win the Canadian vote. There are a few that are directly related to housing and should be of direct importance to  all home owners in Canada as well as in the Lower Mainland.

 

I will outline some of them here.

 

Liberals:

To date the liberals and the Greens are the only major federal parties to release a full platform. The Liberals Richer Fairer, Greener action plan specifically targets property owners with green initiatives  to help Canadian families weather higher energy prices and reduce Canada ’s carbon footprint.

 

The Liberals intend to retrofit 50% of all Canada ’s homes by 2020 and 100% by 2030. If elected they will provide up to $10,000 in direct financial support for any household  that invests in energy saving measures like insulation, weather pr4oofing and efficient heating systems.

 

They will also introduce interest free green mortgage loans of up to $10,000 per household to help Canadians pay for the up front costs of major energy saving home retrofits such as geothermal or solar heating systems.

 

They also promise a $140 million Low Income Homes Retrofit Partnership Fund to help upgrade low income housing across Canada including federally administered co-operative housing and reduce energy costs for those least able to pay.

 

They also intend to provide 30,000 new social housing units and refurbish another 30,000 existing units across Canada .

 

Conservatives

 

The conservatives have only made one housing related election promise to date. If re-elected they promise to give first time home buyers a tax credit for up to $5000 of the closing costs on the purchase of a new home.

 

Although the Conservatives haven’t released a full platform they have previously made tax cuts that helped to offset the cost of owning a home.

 

NDP

 

The NDP also have not released a full platform or their position on federal housing and home ownership issues, although Jack Layton has spoken about these issues in some appearances.

 

Green Party

 

The green party’s platform includes several green retrofit promises that may impact home buyers and sellers if the party is elected into power.

 

The green party plans to retrofit all of Canada’s buildings to a high level of energy efficiency by 2025 and zero net energy after 2025 using refundable tax credits, tax deductible green mortgages, 100 % accelerated capital cost allowance, revolving federal loans and changes to Canada’s Building Code.

 

They also promise to amend the regulations requiring all appliances to meet ENERGY STAR criteria by 2015 with most inefficient appliances and light bulbs phased out by 2010.

 

Overall and either way you cut it there will be changes in the next Federal election that will effect us all.

 

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