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Our Analysis [Update: April 17]

In our Member surveys, housing affordability continues to be one of the top issue facing the Greater Vancouver business community. In the housing plank of their platform, the BC Greens have taken both a supply and demand side approach to creating a more affordable housing market. We welcome their focus on zoning density, the creation of affordable rental units, and "missing middle" housing supply. However, the success of their strategy depends on the specifics of their policies. While we agree with the goals, it is unclear what a "rethink" of zoning will specifically entail or what incentives they would enact to create affordable rental units. Their focus on rental units is very important, especially for those 25-34 years old, but some thought should also be given to making supply which makes homeownership more feasible for residents of our region. Housing affordability is also very different across our province and their strategy has no mention of how it will be implemented in varying markets.

With their support for a free public option, the BC Greens have laid out one of the most ambitious childcare strategies so far this election. The platform states they would pay for this program by consolidating fragmented support for childcare and by "using a combination of existing federal and provincial program funding, plus new funding." However, their plan remains vague on these existing funding sources and what new funding source they would introduce. Furthermore, the 4-year phase in is dependent on how quickly childcare spaces can be created. The creation of spaces is currently a major barrier to affordable childcare in our province, and without a clear plan to develop enough spaces to implement a public option and train the necessary workforce such an ambitious plan will be difficult to bring to fruition, let alone pay for.

The BC Green Party is building upon harm reductions drug policies that exist in greater Vancouver, and calling for an important dialogue regarding education and access to treatment. While these are important long-term discussions, their plan is light on how to address the realities of the fentanyl crises that exist in the here-and-now

Our Analysis

The government's foreign property transfer tax has been acknowledged as an important first step in helping cool the real estate market in our region, however its abrupt roll-out only amplified the issues created with such market intervention. The accelerated period (5-days) between announcement and implementation caused significant disruption and uncertainty for reputable real estate deals already nearing completion. While it is important to ensure people have access to the housing market, the new provincially backed loan program could exacerbate the current issues in the housing market. By driving up demand in a market with stagnant supply this policy will only drive up prices, and be detrimental to our regions ability to attract and retain the workers our economy needs to grow. While the BC Liberal Government in the 2017 Throne Speech discussed working with municipalities it increase supply, details of how this will do this have yet to be released. We would like to see a greater focus on working with municipalities to grow housing supply in our province, especially "missing middle" housing which better accommodates the needs of our region.

In their 2017 Platform, the BC Liberals continue with their strategy of focusing on the supply of childcare in the province. This is an important approach; however, the province also requires a strategy that makes childcare more accessible and affordable for parents. B.C. faces some of the highest childcare costs in the country and increased supply can only bring these down if they outpace growth in demand. A holistic approach to childcare should include removing barriers to and incentivizing private sector participation and an exploration of better alignment between school and work hours, including afterschool programs. To properly garner the human capital benefits of such a policy, attention should be paid to both supply and accessibility.

The current government has been at the frontlines of fighting the fentanyl crises which claimed 914 lives in B.C. in 2016. The 2017/18 budget and the recent deal with the federal government saw a significant increase in funding for addiction and mental health services. However, there was a recent dip in the number of treatment beds for youth, despite the crises. The BC Liberal Government has kept an open mind in trying to find the best policy solutions, including prescription heroin.  While the crises does not appear to be subsiding the government is taking steps to introduce necessary supports.

Our Analysis [Update: April 17]

The BC NDP's approach to the housing crises focuses on market speculation, support for alternative housing tenures such as co-ops and rentals, and the creation of supply. The latter two are very welcome as Greater Vancouver is in significant needs for more diversity in housing stock to fit the varying needs of people in our region. Their proposal to place funding from the foreign buyer's tax into a housing affordability fund is very much aligned with the recommendations in our platform, however the retroactive nature of such a tax could cause significant market disruptions and penalize those who made reputable deals in the past. Their housing plan focuses on working with local governments to create diverse housing type and tenure, which are key themes in our upcoming report on housing and the "missing middle", and we are pleased to see attention given to a broad range of housing solutions including those suited for middle income earners.

The NDP platform has taken an approach which rightly views mental health and addiction services as closely linked. Their plan makes a commitment to early, preventative, and accessible care but does not propose any policies aimed at achieving these goals. They also discuss a province-wide strategy to deal with the overdose crises, but again do not offer details.

It has been shown that access to affordable childcare can be an economic benefit, especially in provinces such as British Columbia with some of the highest childcare costs in the country.  The BC NDP has endorsed, and integrated into their platform, a specific plan to create a $10-a-day publicly delivered childcare system in the province. While not stated in their platform document, their plan is estimated to cost over $1.5 billion annually, and this does not appear to include the necessary investments in workforce training. The current costing in the platform documents puts the price at $265 million in 2018/19 and then $400 million in 2019/18, with no indication of the budgetary implications of their plan once it is fully implemented. As this is central to their platform, we expected a transparent, comprehensive, and straight forward costing of this cornerstone initiative. Expanded childcare access and capacity should be done in a way that is not too burdensome to the tax system. As the Business Council of BC has suggested, it is important to analyze a mix of approaches which includes better alignment of school and work hours, collaborating with employers to provide on-site daycare facilities, and expanding leasing options for daycare facilities. The NDP platform states that existing services will be invited into the new system, with no details on what their role will be.

Special Note [Update: April 26]

It has been brought to our attention that on a number of occasions candidates for the BC NDP have publicly suggested that the Greater Vancouver Board of Trade “supports” or has “endorsed” their $10 a day childcare proposal. This is incorrect, and we have repeatedly, and directly, brought this to the NDP’s attention. As published in our 2017 Election Platform in January, the Board’s desire of the three parties was for them to commit to “…work with the Federal Government to explore the human capital benefits of increasing access to affordable child care.”

Given we have put in the position of needing to clarify this matter, we draw to your attention our specific concerns on the NDP’s childcare proposal. 

Specifically:

• While expenditures of $265 million (2018/19) and $400 million (2019/20) are contemplated in the NDP platform, their plan fails to identify, nor cost, the minimum annual estimate of $1.5 billion that it would take to fully implement their plan, nor the resulting impact on annual deficits as the policy is implemented every year going forward.
• In addition, their plan also does not appear to include the necessary and considerable investments in workforce training required to realize their vision.
• The way in which child care is implemented is also a crucial element to any child care plan.  There are no details in the NDP plan as to, for example, what the role of school/work hours alignment might be, employer collaboration (re: on-site child care facilities), expanded leasing options for private child care providers, etc.  These considerations can materially impact the cost to the taxpayer, and the lack of mention of them leaves the total bill to taxpayers undeterminable.
• It is important to note that the Board has endorsed the meaningful expansion of child care for years, but we have also specifically stated that it must be done in a way that is not too burdensome to the tax system. The NDP plan fails this test by its omission of material information.

We can not endorse the BC NDP’s plan in the incomplete way it has been articulated in their platform.  We also can not allow our brand to be misrepresented in this manner, and thus appreciate the opportunity to reiterate our stance on the matter.