Happy New Year! I hope you had a chance to disconnect over the holiday season and are ready for a healthy and prosperous 2025.
The big news to kick off the new year is today’s announcement by Justin Trudeau, who has resigned as leader of the Liberal Party of Canada and will remain as Prime Minister until a new leader is chosen.
After many months of turmoil within his own Cabinet, including the shocking resignation of Chrystia Freeland, Minister of Finance and Deputy Prime Minister, in December, Trudeau’s decision is not surprising—and some would say, long overdue.
Trudeau’s Liberal minority government has been bracing itself for an anticipated non-confidence motion by the Conservatives, supported by the NDP, early in the new year. Trudeau met with Governor General Mary Simon today, where he requested—and was granted—a prorogation of Parliament until March 24. This temporarily suspends the session of Parliament without dissolving it, and will provide a little breathing room for the Liberals.
This leadership race could be a pivotal opportunity for the Liberal Party to rebuild their image in the eyes of voters, provided they can confirm a new leader who can win back Canadians’ confidence. Although no one has officially announced their candidacy yet, names circulating in the media for months have included Chrystia Freeland, Dominic LeBlanc (Minister of Finance and Intergovernmental Affairs), Mark Carney (former Governor of the Bank of Canada and Bank of England), and yes, even former B.C. Premier Christy Clark.
Conservative Leader Pierre Poilievre and NDP Leader Jagmeet Singh have said they are still aiming to vote down the Liberal minority government regardless of its new leader, but no matter what, all eyes will be on who steps forward to join the leadership race in the coming weeks.
HAVAN continues to work with CHBA BC and CHBA to advocate for all levels of government to work together to address the challenges of the housing industry including zoning restrictions, density limits, and NIMBYism.
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QUICK BITES …
- New year, new tax: B.C.’s house-flipping tax goes into effect on Jan. 1, 2025 (Global News). Anyone who sells a home within a year of purchasing it will have to pay a 20% tax rate on the profit, which then drops to 10% after 18 months, and then down to zero after the person has owned the property for more than two years.
- From Vancouver is Awesome, Cost to build Metro Vancouver parking stall reaches $230,000, finds report. Mark Seinen, a senior planner for Metro’s Regional Planning and Housing Services, speaks to his report to Metro Vancouver’s regional planning committee, attributing escalating price tag to build a parking space is raising the cost of new housing in Metro Vancouver.
