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Kelowna Liberal, Conservative candidates at odds on economic issues

The mortgage stress test and deficit spending were hot topics at an early morning forum
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Candidates from both Central Okanagan ridings at a forum on the morning of Wednesday, Oct. 16. (Michael Rodriguez - sa国际传媒)

Debate about the economy dominated an early morning breakfast forum between federal candidates on Wednesday (Oct. 16).

Eleven of the 13 local candidates from Kelowna-Lake Country and Central Okanagan-Similkameen-Nicola were present at the event.

READ MORE: Meet your Kelowna-Lake Country candidates

READ MORE: Meet your Central Okanagan-Similkameen-Nicola candidates

A question regarding the mortgage stress test, a financial bar home buyers must pass to be approved for a mortgage, had two candidates in a back-and-forth argument.

Liberal candidate for Kelowna-Lake Country Stephen Fuhr said his party has no plans to eliminate the test.

sa国际传媒淲esa国际传媒檙e trying to help people get into homes; wesa国际传媒檙e not trying to get Canadians access to homes they cansa国际传媒檛 afford,sa国际传媒 he said.

sa国际传媒淲e have done a number of things to help Canadians get into houses sa国际传媒 more than I have time to explain. The bottom line is: these policies are to help people keep more of their own money.sa国际传媒

Central Okanagan-Similkameen-Nicolasa国际传媒檚 Conservative candidate Dan Albas countered, saying the stress test is causing snags in the system that hinder the real estate market as a whole.

sa国际传媒淲hen you have a family thatsa国际传媒檚 stuck in a rental in an apartment, where theysa国际传媒檙e paying more in rent than they would in a starter home, theresa国际传媒檚 a problem,sa国际传媒 said Albas.

Albas continued, saying this results in an issue that causes the sa国际传媒渨hole market to freeze,sa国际传媒 where families that should be in starter homes cansa国际传媒檛 afford to move up due to the stress test and those homes remain unsold.

Fuhr retorted, calling the economy the most significant component affecting the real estate market in the Okanagan. He said under Conservative governments, the economy was sa国际传媒渇latter than a pancakesa国际传媒 from 2008 through 2015 sa国际传媒 years after the recession ended.

sa国际传媒淭hese guys couldnsa国际传媒檛 grow the economy,sa国际传媒 he said, motioning towards Albas.

sa国际传媒淭hey cansa国际传媒檛. And now, they are going to pull $53 billion out of the economy. Who can grow the economy? Who cansa国际传媒檛? Thatsa国际传媒檚 the biggest single factor that will affect this problem.sa国际传媒

Candidates for the two front-running parties again found themselves at odds against while discussing their respective platforms about the budget.

sa国际传媒淲e cansa国际传媒檛 spend more than what we have,sa国际传媒 said Kelowna-Lake Country Conservative candidate Tracy Gray, adding that her party will get back to balanced budgets within five years.

Gray said that involves cuts, not around core services, but instead cutting frivolous spending on unnecessary projects. As an example, Gray said a Conservative government wouldnsa国际传媒檛 send money to China to help them build roads.

Fuhr was quick to discredit the Conservative Partysa国际传媒檚 fiscal efforts saying 16 of the last 18 Conservative budgets were deficits.

Deficit spending is required, according to Fuhr, due to the ever-progressing technologies that bring new challenges to the economy.

sa国际传媒淒igital economy, artificial intelligence, automation sa国际传媒 wesa国际传媒檝e got to make sure wesa国际传媒檙e prepared for that. That requires investment. I would say we cansa国际传媒檛 afford not to invest in those things,sa国际传媒 he said.

Fuhr said to look at Ontariosa国际传媒檚 spending cuts under its provincial Conservative government, as much of the same should be expected under the federal Conservatives.

sa国际传媒淭hatsa国际传媒檚 exactly what yousa国际传媒檒l get from a Scheer government if they get hold of Canada,sa国际传媒 Fuhr said.

Gray said Ontariosa国际传媒檚 situation was caused by irresponsible Liberal governments, saying that Conservatives needed to sa国际传媒渇ix the house.sa国际传媒



michael.rodriguez@kelownacapnews.com

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