On the first full day of campaigning, the NDP announced its plan to build on federal land.
Leader Jagmeet Singh announced in Montreal Monday (March 24) that the NDP would set aside 100 per cent of suitable federal Crown land to build more than 100,000 rent-controlled homes by 2035. The NDP's plan also includes the redesigning and doubling of the Public Land Acquisition Fund 鈥� $1 billion over five years 鈥� to acquire more public land to build more rent-controlled homes.
鈥淲hile working and middle-class families are being priced out of the market, big corporations are lining up to buy up homes, offices, and land at fire-sale prices,鈥� Singh said.
The NDP plan also includes: publicly funding new construction with a new Community Housing Bank to partner with non-profit developers, co-ops and Indigenous communities; speeding up approvals on lands owned by the federal government; and training 100,00 more people, including newcomers and people displaced in the trade war, in skilled trades.
On Tuesday, the Conservative Party of Canada promised to axe GST 鈥� the federal sales tax 鈥� on new homes under $1.3 million. The funding for the tax cut would come from eliminating "$8 billion of the Liberals' bureaucratic housing schemes that have only driven up housing prices," according to a news release.
Leader Pierre Poilievre said the tax cut will bring hope to new homebuyers after "Liberal inflation" drove up the benchmark housing price in Vancouver and Toronto to more than $1 million.
鈥淯nder my plan, it will be easier for a young couple in Surrey, a single mom in Oshawa, and a tradesman in Regina to get on the housing ladder, just like their parents did.鈥�
The Conservatives say that by axing the GST, it will save homebuyers up to $65,000 on the purchase of an average home in big cities, while also saving roughly $3,000 every year on mortgage payments.
The party adds that it will also boost the number of homes built each year, adding about 36,000 extra homes annually. That, according to a news release, will lead to more income for construction workers and businesses and will then raise an extra $2.52 billion in income tax from those trades workers and home builders.
Prior to announcing an election, the Liberal government announced it would eliminate GST for first-time homebuyers.
Liberal Leader Mark Carney said on March 20 his government would be eliminating the tax for first-time homebuyers on homes under $1 million, adding it would save Canadians up to $50,000.
鈥淥ur government is laser-focused on lowering costs for Canadians and making homeownership a reality. Eliminating the GST will save first-time homebuyers up to $50,000 and spur housing construction across the country," Carney said.
He added his government would be announcing "a series of new measures to increase housing supply shortly."
Carney on Tuesday started the morning in Halifax, while Poilievre made his GST tax cut announcement in Vaughn. Singh is set to make a number of appearances in Toronto.
Sunday marked the launch of campaigning following Carney's meeting with Gov.-Gen. Mary Simon, asking her to dissolve parliament.
Election day is set for April 28.
