Federal government will remove GST on new rental housing builds, senior source says

Change would lower cost of labour and materials for homebuilders Author of the article: The Canadian Press Dylan Robertson Published Sep 14, 2023  •  Last updated 16 hours ago  •  2 minute read Prime Minister Justin Trudeau visits the construction site of an affordable housing project in London, Ont., Wednesday, Sept. 13, 2023. Photo by Nicole…
Federal government will remove GST on new rental housing builds, senior source says

Change would lower cost of labour and materials for homebuilders

Author of the article:

The Canadian Press

Dylan Robertson

Published Sep 14, 2023  •  Last updated 16 hours ago  •  2 minute read

Prime Minister Justin Trudeau visits the construction site of an affordable housing project in London, Ont., Wednesday, Sept. 13, 2023. Photo by Nicole Osborne/THE CANADIAN PRESS

LONDON, Ont. — Prime Minister Justin Trudeau will announce Sept. 14 that Ottawa is removing the GST on construction of new rental apartment buildings, according to a senior government source.

The source spoke on the condition of anonymity to discuss matters that were not yet public.

Article content

The change would lower the cost of labour and materials for homebuilders, and is one of the components of an affordability announcement Trudeau was set to make in the afternoon, the source said.

Advertisement 2

THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY

Subscribe now to read the latest news in your city and across Canada.

  • Exclusive articles by Kevin Carmichael, Victoria Wells, Jake Edmiston, Gabriel Friedman and others.
  • Daily content from Financial Times, the world’s leading global business publication.
  • Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
  • National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
  • Daily puzzles, including the New York Times Crossword.

Subscribe now to read the latest news in your city and across Canada.

  • Exclusive articles by Kevin Carmichael, Victoria Wells, Jake Edmiston, Gabriel Friedman and others.
  • Daily content from Financial Times, the world’s leading global business publication.
  • Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
  • National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
  • Daily puzzles, including the New York Times Crossword.

Create an account or sign in to continue with your reading experience.

  • Access articles from across Canada with one account.
  • Share your thoughts and join the conversation in the comments.
  • Enjoy additional articles per month.
  • Get email updates from your favourite authors.

Finance Minister Chrystia Freeland, Housing Minister Sean Fraser and Industry Minister François-Philippe Champagne are also to be at the announcement in London, Ont.

That is where most of the 158 Liberal MPs have been gathered for a three-day retreat aimed at strategizing their approach for the return of Parliament next week. Trudeau has said his focus is on hearing what constituents are telling MPs.

Halifax MP Andy Fillmore said the talks have largely focused on affordability concerns and how the Liberals can better communicate what they’ve done to help with the cost of living.

He said climate change was a frequent topic in Wednesday’s meeting of MPs from all regions, with two more meetings of the national caucus planned for Thursday.

The Liberals have seen slumping poll numbers that suggest Canadians believe the Conservatives would do a better job dealing with affordability and housing concerns.

Quebec MP Steve MacKinnon said the party is trying to stabilize the housing market after a drastic rise in costs and interest rates, but the provinces also need to help.

Advertisement 3

Article content

“We clearly have to make some adjustments,” said the MP for Gatineau.

Meanwhile, Champagne rejected the idea that the Liberals are responding late to concerns about inflation.

“It’s always a good time to fight,” he said.

Foreign Affairs Minister Melanie Joly pushed back on reports that MPs have come to London to blast Trudeau over unflattering polls.

  1. 7 years not enough to build the millions of homes, warns economist

  2. Trudeau announces first agreement under new housing fund

  3. Average rent now costs $2,117 a month in Canada — a record high

“There’s no dirty laundry,” she said in French, arguing the COVID-19 pandemic was a much bigger challenge for her government than slumping poll numbers.

“We are used to going through crises,” she said. “We are in solution mode, and we’ll earn the trust of Canadians.”

Article content

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
Powell Wins Over Bond Traders Dialing Back Bets on Deep Downturn
Read More

Powell Wins Over Bond Traders Dialing Back Bets on Deep Downturn

The bond market is finally getting in sync with Jerome Powell’s outlook for the economy. Author of the article: Bloomberg News Liz Capo McCormick and Michael Mackenzie Published Jun 24, 2023  •  4 minute read 4k]p6ermolan0)pd9fpb57p6_media_dl_1.png Bloomberg RSS (Bloomberg) — The bond market is finally getting in sync with Jerome Powell’s outlook for the economy.…
G-7 Negotiators Put Russia Oil Price Cap on Agenda for Leaders
Read More

G-7 Negotiators Put Russia Oil Price Cap on Agenda for Leaders

Group of Seven negotiators agreed that discussions on a potential price cap on Russian oil had progressed enough to send the issue to leaders to discuss at their summit in Germany, according to people familiar with the matter. Author of the article: Bloomberg News Birgit Jennen, Michael Nienaber and Alberto Nardelli Oil pumping jacks, also…
Bill Gross Says 10-Year Treasuries Are ‘Overvalued’
Read More

Bill Gross Says 10-Year Treasuries Are ‘Overvalued’

Bill Gross, the one-time bond king, said stock and bond bulls are wrong, as both markets are “overvalued.” Author of the article: Bloomberg News Ye Xie, Katie Greifeld and Romaine Bostick Published Aug 11, 2023  •  1 minute read Bill Gross, fund manager of Janus Capital Management LLC, speaks during a Bloomberg Television interview on…
Polish PM Calls on Norway to Share Oil and Gas Profits Windfall
Read More

Polish PM Calls on Norway to Share Oil and Gas Profits Windfall

Author of the article: Bloomberg News Maciej Martewicz (Bloomberg) — Norway should share the “gigantic” profits it’s recently made as a result of higher oil and gas prices, especially with Ukraine, said Polish Prime Minister Mateusz Morawiecki. Morawiecki, answering a question about his government’s energy policy Sunday at a meeting of a youth group, said…