PM discusses housing crisis and 'generational fairness' in podcast for group that wants an annual surtax on all homes over $1M

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A month after Deputy Prime Minister Chrystia Freeland did her best to talk up a class war, her boss now appears intent on using the housing crisis to pit young Canadians against the old.

Prime Minister Justin Trudeau says older Canadians who “scrimped and saved” to own homes don’t understand the hardships of a younger generation who can’t get a foot on the housing ladder.

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Trudeau, in a podcast interview with the Generation Squeeze advocacy group, refused to take any responsibility for the current affordability crisis, but said the “challenge” was getting seniors and older Canadians to “understand” the fundamental shift in the housing market.

What does that mean for older Canadians with homes?

Trudeau didn’t spell out any new policy in the podcast, but it is telling that he appeared on the podcast for Generation Squeeze, an organization in favour of taxing people’s primary residence.

A report by the group advocates for an annual surtax on all homes over $1 million. Homes valued at $1 million to $1.5 million would face a surtax of 0.2 per cent (possibly rising to 0.5 per cent over time) and homes of $2 million would be hit with a one per cent tax.

Federal and provincial governments worried about implementing a “home equity tax” could........

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