The speculation and vacancy tax is helping turn empty units into homes and creating affordable housing in communities throughout the province, new data confirms.

British Columbia’s economic and fiscal plan remains stable in the face of a slowing global economy and high interest rates as the Second Quarterly Report forecasts a lower deficit than in the previous fiscal update.

B.C.’s First Quarterly Report shows the province’s economy is proving resilient amid challenges, including a devastating wildfire season, high interest rates and costs, and a slowing global economy.

British Columbia remains well-positioned to continue supporting people and navigating emerging global economic headwinds with an improved second-quarter fiscal update.

On National Housing Day, the Province is releasing data that shows the speculation and vacancy tax (SVT) continues to turn empty units into homes and support the creation of additional affordable housing.

British Columbia is well-positioned to support people through emerging global economic headwinds with preliminary numbers showing an improved fiscal forecast.