Having so many Canadian politicians invested in real estate is a problem.
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In the midst of an affordability crisis that has struck Canada harder than almost any other country, the public should be worried that an unusually high proportion of its politicians are landlords.
This column will look at whether MPs are in conflict of interest when they vote on laws affecting house and rent prices. It also digs into whether the House of Commons lacks cabinet ministers and MPs who represent the millions of Canadians struggling to enter the housing market or to just find a modest place to rent.
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Last year, 62 Liberal MPs received money from investment properties in some form or other, as did 54 Conservative MPs (including leader Pierre Poilievre); six Bloc Quebecois MPs; four NDP MPs (not including leader Jagmeet Singh); and Green party Leader Elizabeth May.
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Liberal Fisheries Minister Joyce Murray (Quadra) co-owns vacant land, a rental property and has shares in Real Estate Investment Trusts (REITS). Photo by RICHARD LAM /PNG
Virtually all politicians paint themselves as champions of affordable housing. But since Liberal cabinet ministers hold the seat of power, its most relevant to ask whether the many invested in real estate are in conflict of interest when they shape decisions that directly or indirectly impact housing costs and rents.
Michael McDonald, former head of the University of B.C.s Centre for Applied Ethics, says its more than valid to question the motivations of cabinet ministers and MPs who earn money through real estate, especially those with multiple properties.
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I see potentially serious conflict of interest issues that deserve publicity, and in more extreme cases (politicians) recusing themselves from influencing or making decisions that affect house prices and renting, said McDonald, who serves on the conflict of interest committee of B.C.s Provincial Health Services Authority.
That said, McDonald stresses it can be complicated to determine when a public-policy-maker is in a conflict of interest. While there should be especially intense onus on MPs for whom real estate is their main business to avoid conflicts, McDonald suggested guilt or innocence needs to be determined case-by-case.
The other fundamental question, McDonald said, centres on representation, on whether would-be homeowners and renters have enough people in Ottawa, in provincial capitals or at city halls to truly represent their interests.
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Liberal MP Sukh Dhaliwal (Surrey-Newton) is a developer involved in almost a dozen numbered real-estate companies. Photo by NICK PROCAYLO /PNG
Just as disabled people, women and Indigenous citizens need to feel theyre not politically marginalized, so also do the unhoused and the marginally unhoused, said McDonald.
Do we have enough people who really understand what its like to be desperately trying to get a rental in Vancouver while competing with 10 others for the same place? In Vancouver and Burnaby, for instance, an average one-bedroom unit goes for a gut-churning $2,600 a month.
But most MPs, MLAs and mayors dont rent; they own their homes and often much more property. The applied ethicist supports shining the spotlight on politicians real estate, while urging them to support housing rules that could go against their financial self-interest.
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That would not only be a vote-getter, McDonald said, it would also be wise.
Maybe its a lot to ask, but they would do it for the benefit of the common good.
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