The Province will hold a public inquiry into money laundering that has distorted British Columbia’s economy, fuelled the overdose crisis and driven up housing prices.
The decision to proceed with a commission of inquiry follows three independent reviews that found extraordinary levels of money laundering in B.C.’s real estate market and other sectors of the economy.
“From day one, our government has been working to tackle the housing crisis and fraud that went unchecked for over a decade, hurting people and B.C.’s economy,” said Premier John Horgan. “We have taken decisive actions to combat money laundering, but questions remain and people in B.C. deserve answers. That is why we have decided to proceed with a public inquiry into money laundering in the Province of British Columbia.”
Read the full BC New Democrat government release here: https://news.gov.bc.ca/releases/2019PREM0052-000958