PM & BC Premier say "No" to taxing foreign investors

Both the prime minister and premier of B.C. have both ruled out taxing foreign investors in a bid to curb rising house prices in Vancouver.

Stephen Harper said the Conservative government would not introduce the measure; he also spoke of concern at the level of household debt, including mortgages in some households. He also reiterated that he believes the housing market is stable.

Separately, Christy Clark said Thursday that, although the provincial government is considering how affordability can be tackled in B.C., it will not introduce a new tax on foreign ownership.

A petition on now has 18,000 supporters calling for foreign investment in Vancouver real estate to be restricted.

With first-time buyers struggling to get a foot on the ladder Clark told CBC News that the government is “open to new ideas."