Ontario Liberal Party Leader Bonnie Crombie announced a major housing affordability initiative on Wednesday, the latest in a series of significant policy announcements.
The “More Homes You Can Afford” plan proposes eliminating the provincial Land Transfer Tax for first-time homebuyers, seniors downsizing, and non-profit home builders, saving an average of $13,500 per property. The initiative also aims to scrap development charges on middle-class housing, which currently add up to $170,000 on new homes, replacing them with a Better Communities Fund.
The proposal includes introducing a Manitoba-style rent control system and establishing the Rental Emergency Support for Tenants (REST) Fund to help vulnerable renters avoid eviction during financial emergencies.
Sponsored · Antimony Resources
The housing announcement follows other recent pledges, including a middle-class income tax cut announced November 12 and a promise to find every Ontario resident a family doctor within four years – with Crombie telling voters not to re-elect her if she fails to deliver.
“Doug Ford just doesn’t care about getting you a home you can afford,” Crombie said. “He’s had six years to fix this disaster, and things have only gotten worse.”
At a recent party fundraiser that raised $1.65 million, Crombie has been positioning herself as a “new type” of Liberal, emphasizing her centrist approach to provincial governance.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
One Response
Between tax cuts from development charges and land transfer taxes from Crombie,and no GST on new homes under a millon from PP, my kids might be able to buy a home.