Thank you, Mr. Chambers.
This is something I've written a lot about in my Financial Post columns. I'm not a big fan of the tax system trying to be the answer to solving Canada's housing challenges. There have been a whole bunch of measures. You mentioned one of them, the UHT. There is a witness today who suggested we should introduce a flipping tax. Well, we already have a flipping tax. It was introduced on January 1, 2023. This is very duplicative. We already have a flipping tax in the Income Tax Act. Surprise, surprise, the B.C. provincial government followed the lead of the federal government and introduced a flipping tax, as well.
I find all of these measures to be very silly and dangerous. For example, there's a prohibition of deductions on Airbnbs, where they operate in a municipality that prohibits them. All of these are very interventionist and simply not helpful.