Pirate Party Canada · @piratepartyca
18th Sep 2015 from TwitLonger
Q5: Housing
Canadians have been on a borrowing binge to buy ever more expensive homes. What would you do to guard against a housing bubble?
Number one cause of housing bubble is when speculation ran rampant. Government should also not interfere to encourage people to prop up a real estate market and stock market to make the economy looks better than it actually is. Instead we need a longer term less interventionist policy. A new socio-economic order through Basic Income Guarantee. This will prevent U.S. style subprime mortgage and China's government enticing their people to prop up their stock market until it crashes.
Our government should study the effectiveness of Land Value Tax in controlling wild speculation and minimize housing bubble. It will also encourages productive use of land and prevent housing shortages.
We must support our municipalities. Although we are open to restoring the Federal GST by up to 2% in order to give municipalities a permanent revenue source, we think Infrastructure Bonds are a much better route. By utilizing these bonds, municipalities could find the funds that they require to fix their roads and bridges, upgrade their fire departments and police stations, and maybe even build a sewage treatment plant or stadium. With interest being paid to the Canadians that purchased the bonds, this would lead not only to more work, but also more money being spent within the community. The wave of economic benefits is undeniable.
Retort to leader's question:
Minimum wage won't fix poverty. Mincome or BIG would. Renovation tax credits and constant increases in tax credits during election is not sustainable. We can create a drastic improvement in our society. By axing $600 billions of corporate subsidies (approximate cost so far over 30 years or ~ $22 billion per year) in combination with the elimination of boutique tax credits, bureaucratic inefficiencies, and a welfare system unable to make a difference, we can afford to implement our BIG idea. We can have a Basic Income Guarantee that provides the buffer necessary for people from all walks of life to live with dignity. As a cushion, people will be more inclined to take a risk on a new business, move to a new city in search of work, or take the step from renting to owning. Our BIG idea will give our economy a BIG push in the right direction, and everyone will be better for it.
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