Mr. Speaker, a few weeks ago, I asked the Prime Minister a simple question: Will the Liberal government defend the private property rights of British Columbians in response to the Cowichan decision, yes or no? The member for Vancouver Fraserview—South Burnaby said that Conservatives, myself included, were fearmongering. However, British Columbians were not imagining what was happening. Real people and real businesses are already feeling the consequences of the Cowichan decision. Real estate deals have been abandoned. The provincial government has had to backstop mortgages, and investment is draining out of British Columbia. A survey from the Business Council of British Columbia found that almost 74% of B.C. businesses plan to decrease investment due to uncertainty over DRIPA, which is the provincial equivalent of the federal UNDRIP legislation; 73% said it is harder to access external financing; and one in three respondents said they are reducing hiring plans.
The CEO of Wesbild Holdings said to Global News, “If you asked us today whether we’re going to invest in land in B.C., the answer is no.” In March, the Vancouver Sun reported that property values in Richmond could decrease by up to 40%. For many families, that means their home, their biggest asset, is suddenly at risk. This is not theoretical. Business owners and homeowners are facing the consequences of the government's refusal or denial to prioritize and protect fee simple titles.
Last week, the government could have made a commitment to defend private property and remove previous instructions to its lawyers. Instead, it left British Columbia in further uncertainty, sending a signal that Canada is becoming a riskier place to invest. Thankfully, the Supreme Court refused to hear the New Brunswick Wolastoqey Nation case.
Conservatives will continue to push the government to pursue a policy and a legal position that protects private property rights for all British Columbians.