Conservative Leader Pierre Poilievre has pledged to remove the federal sales tax (GST) on new homes under $1 million if his party forms government.
Poilievre made the announcement at a press conference in Ottawa on Oct. 28, saying that cutting the GST on the purchase of an $800,000 home would save more than $40,000, or $2,200 per year, in mortgage payments. He said provincial governments would also be encouraged to remove the sales tax from new home sales.
Poilievre estimated the measure would spur construction of another 30,000 homes per year.
Housing and rental costs have shot up in recent years, impacted by several factors including spiking inflation and higher interest rates, as well as increased demand from record immigration levels….