The leader of the National Party believes that the situation has worsened since the liberals took power. Jagmeet Singh cited the current situation in Queen City as an example: The average annual rent in Toronto has increased by $4,212 over the past six years.
Justin Trudeau likes to say that he creates affordable housing for people, but he actually gives wealthy landlords millions of dollars to build expensive apartment buildings and raise rental prices., did he say.
To solve the problem of unaffordable housing, Mr. Singh suggests imposing a 20% tax on foreigners who want to own residential properties in the country, to discourage them from buying it and raise prices to make their investment profitable.
It also adheres to Goods and Services Tax (GST) clearance for developers interested in building homes that meet strict affordability standards.
Also, he also suggested creating a fund to help non-profit organizations acquire real estate.
Mr. Singh also wants to build 500,000 affordable housing units over ten years. It plans to provide assistance to families of up to $5,000 a year for housing.
The party says it’s temporary help
We are also tackling the problem of social and affordable housing waiting lists.
To fund its commitments, the party calculates that the wealthy pay their fair share through wealth tax, and that foreign companies doing business in Canada pay taxes, such as Amazon for example, and through the fight against tax evasion.
More details to come.