Carney's condo bailout just got a whole lot shadier

Nobody, no developer asked for this, for me directly.

The plot has been lost a little bit here.

Handing out huge sums of money to developers who have made billions over the past 20 years, paid for with tax dollars.

Oh Canada, this is getting serious.Just a couple of weeks after Canadians called out Prime Minister Mark Carney and BC Premier David Eby's condo bailout plan to use tax dollars to rescue developers sitting on over 2 ,000 unsold and overpriced condos in Greater Vancouver, the federal Conservatives have uncovered some shocking information and are demanding answers because of it.It appears that just days before the bailout plan was announced, Brookfield, you know, the trillion dollar asset management company Carney, chaired before popping back up into Canada to become our prime minister.Well, that Brookfield just partnered with one of the major Vancouver developers, it seems, is beautifully positioned to benefit from Carney's tax paid for bailout.So what did the liberals do?They shut down the conservatives' attempt to probe into what's really behind the plan.

I'm Drea Humphrey with Rebel News bringing you more on this story, including an interview with MP Aaron Gunn, who's helping lead the push to get Canadians the answers they deserve on this issue.

And as one of the millennial members of Parliament, I also have to point out how insane the generational inequity of this policy truly is.Handing out huge sums of money to developers who have made billions over the past 20 years, paid for with tax dollars by those who are still trying to enter the housing market for the very first time.It is yet another generational transfer of wealth that creates no new units of housing while rewarding those who built and priced condos that nobody could afford.It's not only bad economic policy, it's unethicalit's immoral, and it's wrong.

That was North Powell River MP Gunn at Tuesday's Ethics Committee meeting, putting his newly appointed role as the Conservative shadow minister for ethics and accountable government to work by calling out what he says is Mark Carney's billionaire bailout, even while Parliament is recessed for summer.

Yeah, we're back in Ottawa for what was an urgently called meeting of the Ethics Committee to investigate and demand answers to questions that Canadians have about this $1 .45 billion billionaire bailout of Vancouver condo developers that was recently announced by Prime Minister Carney and Premier David Eby in British Columbia, where they want to use all this taxpayer money as a handout essentially to their wealthy developer friends to purchase more than 2 ,000 unsold condo units in Greater Vancouver in an attempt to basically prop up the price of these condo prices in the fifth most unaffordable housing market in the world and to prevent those prices from falling so that God forbid some of these developers have to take a loss.

In case you missed what MP Gunn was referring to, Mark Carney first announced that initiative to buy out the empty condos in Vancouver on June 18th and this is what he said was the reason why.

Metro Vancouver alone around 2 ,500 finished units are standing vacant with no buyers.With higher interest rates, weaker investment demand, developers are stuck.They don't want to sell at a loss.They can't afford to hold those empty units indefinitely.

According to Mark Carney, it's not the young families struggling to break into one of the world's least affordable housing markets who are stuck.It's the developers.And Carney plans to intervene with yourtax dollars by buying them out of their bad investment, just as the market was beginning to put pressure on the builders to lower prices and compete for buyers again, which would likely lead to demand matching supply and increased affordability in the overall market.Essentially, Carney interrupted what many believe was the beginning of a long overdue market correction in Vancouver.The public backlash was swift.

Where's your bailout?You, the single mother who has to turn back items at the grocery checkout, where is your bailout?

We've even launched a petition I encourage you to sign at StopTheCondoBailout .com, calling on governments to halt this plan.And almost as quickly as the backlash came, so did new messaging.Suddenly, both Carney and Premier David Eby tried to distanced themselves from the original announcement, even pointing the finger at each other about whose idea it really was.

I mean, you know, the federal government was enthusiastic about us announcing this before all the details were out.But in the in the absence of the details, the plot has been lost a little bit here.So I'm happy to share some of the information with you.

First off, nobody, no developer asked for this for me directly.And the province of British Columbia, which initiated the idea, sees an opportunity, potentially given what's happening in that market, to convert some of these condos that are lying unsold to affordable housing, particularly rent to buy affordable housing.

But Canadians weren't buying it.They still want answers.Like who really came up with the developer plan in the first place?Who really stands to benefit from it?And just how much Canadian taxpayers struggleto afford property really stand to lose from it?

So when Conservative MPs such as Aaron Gunn, Gabriel Hardy and Jacob Mantle set out to investigate those questions, the concerning connections they uncovered only added to why they believe an emergency ethics hearing couldn't wait until Parliament returned in the fall.

We ask for fact.And we just want to ask those questions to the people that took the decision.So you can know what's going on with your money.But they don't want this to happen.So they shut down debate.And they shut down committee.

And they are angry about the fact that we come here doing our job.Ethic committee is an oversight committee.We have to adapt to what's going on.But they don't like it.So that was today the liberal action to just say, for another time, You know, like, don't ask questions, just follow because we are so good at what we do.And this is a big problem.

That's right.Right here in black and white, dated June 3rd, Concert Properties announced it had formed a joint industrial venture with Brookfield.just days before Mark Carney and David Eby unveiled their condo bailout plan.Brookfield again being, of course, the giant dollar asset management company Carney chaired formally.But Gunn says that isn't the only connection worth looking into.

Brookfield that is closely connected and in a partnership with Concert Properties, which is one of the development firms that stand to benefit the most from this potential bailout.You have Duncan Vladarchuk, who's the former advisor and close friend of the Minister of Housing, Gregor Robertson.He's the chair of the Liberal Party of Canada in British Columbia, but he's also, in addition to these two roles, the chief of staff atOni Group, another one of the key developers that stand to benefit the most.And you also have Bob Rennie, known as the Vancouver Condo King, who recently had a private meeting with Premier David Eby, no one knows what was discussed, and then also held a private secret fundraiser, max dollar fundraiser for Mark Carney that was attended by who knows how many Vancouver developers back in March.So lots of concern again about who stands to benefit from this and again from my perspective just the outrage that you're using taxpayer dollars on this kind of harebrained scheme that nobody campaigned on.

to bail out developers who built and priced condos that nobody could afford.

So Gunn had put forward a motion calling for six summer ethics committee hearings and for which key players would testify before Parliament.The tell -all witness list included the housing minister, Gregor Robertson, who we already know the developers love based on the $25 ,000 per plate fundraiser condo king developer Bob Rennie put on for him in the past.Rennie himself also made the witness list.BC Housing Minister Christine Boyle, Vancouver Mayor Ken Sim, Concert Properties and, you guessed it, Brookfield Electric.asset management.But instead, what did the Liberals do?

The Liberal MPs within the committee used their majority to block Gunn's motion.They shut down debate, they shut down scrutiny, and they shut down your opportunity to hear from those witnesses.A decision MP Mantle suggests the Liberals had been primed for in advance by Prime Minister Mark Carney himself.

that was sent by the Minister of Housing, which is clearly an attempt by the Minister to give the Liberal members freedom.to avoid this study.But this letter provides no new information, provides no new explanations, and restates some of the unpersuasive arguments that the government has previously made.For example, the Minister says that this committee should wait for more details before undertaking a study.Well, I would respond first of all that it was the Minister and this government that announced this program.Should they not have the information and the details available before they announce a program?

And number two, if the minister would like to provide more details, we are requesting him to come to this committee and provide them.

So for one thing, the Liberal Party and Prime Minister Carney never campaigned on this, which raises some obvious ethical questions such as where did this idea come from?Who lobbied for it?and who maybe most importantly stands to benefit the most when it comes to developers, big banks and foreign investors.Those are questions that after today's meeting remain unanswered as the Liberals move to use their backroom majority to shut down debate to prevent this investigation and quite simply just to prevent getting some much needed transparency to Canadians.They're defending this policy as some kind of great announcement for affordable housing.So if they're so proud of it, they should like nothing more than the opportunity to talk about it at committee and to share it with Canadians.

But instead, they're trying to sweep it under the rug and refuse to answer basic questions about where this policy came from and where it's going in the future.

Now here's the good news.The liberal government appears to be running scared after something I don't think Carney expected.And that's that.Canadians are paying attention.They weren't fooled by a sudden switch from talking about rescuing stuck developers to rent -to -own and affordable housing.Instead, they're demanding answers.

The Conservatives, including Aaron Gunn, are not ending their pursuit to get them, and neither are we at Rebel News.Go to StopTheCondoBailout .com and keep the pressure going.Mark Carney shouldn't be able to use your tax dollars to get into the luxury condo business while bailing out his developer friends.If you haven't already done so, go to StopTheCondoBailout .com and sign and share our petition today.