Oct 29 2024 9 mins
Could cutting the 5% GST on new homes under a million dollars really turn the tide in Canada's housing market? This episode uncovers Pierre Poilievre's controversial housing plan and its potential to disrupt the status quo. Join Mike and Jane as they dissect Poilievre's proposal to slash the GST and dismantle the Housing Accelerator Fund and Housing Infrastructure Fund. With some experts surprisingly in favor, and the Ontario government considering matching the GST cut, this bold move is stirring debate. Meanwhile, Housing Minister Sean Fraser stands firm, defending his own programs that have facilitated essential rezoning and infrastructure projects. Are these the moves that will address the affordability crisis, or do they cater more to those who are already comfortably housed?
Listen as we unpack the current rebate program for homes priced under $450,000 and why it might be losing ground in cities like Toronto where such prices are a rarity. Mike and Jane weigh the potential benefits of Poilievre's tax cut strategy, like boosting construction in a sluggish market, against the criticisms that it overlooks renters and low-income individuals facing the harshest challenges. We navigate through the complexities of these proposals, exploring who stands to gain the most and whether these bold strategies hold the key to a healthier housing market. Tune in for insights and expert opinions that shed light on whether Poilievre's plan is a game-changer or another missed opportunity.