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Member of Parliament

Eric Duncan

  • Member of Parliament
  • Member of Parliament
  • Conservative
  • Stormont—Dundas—South Glengarry
  • Ontario
  • Voting Attendance: 64%
  • Expenses Last Quarter: $135,225.85

  • Government Page
Context: House Hansard - 47 - Mar/28/22
Mr. Eric Duncan
  • Mar/28/22 12:35:07 p.m.
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  • Re: Bill C-8 
Madam Speaker, I thank my colleague from the Bloc Québécois for his question and his intervention. In this section, there is a 1% tax on vacated homes. I would use as an example, in the province of Quebec, perhaps the city of Montreal, where housing prices are in the millions of dollars. With no disrespect to the 1%, that could be into the tens of thousands of dollars. I would argue that it does not disincentivize some people, if they are those who can afford to spend $3 million or $4 million to buy a home and leave it vacant. We have asked at different committees what that correlation would actually do to cool the market. It remains to be seen. What I will offer is an alternative, and I will agree with my colleague. Working with provinces and municipalities, we need to look at banning foreign buyers who are in it for profit and investment from getting into the system. I believe that tool, which is not included, could actually cool the market more than what is being proposed in this legislation.
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