Thursday March 20, 2025 | EDMONTON, AB [Reporting from VICTORIA, BC]
by Mary P Brooke | Island Social Trends
Today in Edmonton, Prime Minister Mark Carney announced that the federal government will eliminate the GST for first-time homebuyers on homes at or under $1 million.
He acknowledged that Canada is in a housing crisis. Demand has gone up, supply has not kept pace, and prices are too high for people to afford.
The elimination of GST would apply to the purchase of new and substantially renovated homes, said Carney at a construction site in Edmonton.
Delivering faster:
The overall commitment by Carney is to deliver for the economy in a way that is faster and on a different scale
“We need to do things that have not been imagined or have not been thought possible at a speed we haven’t seen before,” said Carney.
“That’s the nature of the time, and in order to do that, we’re going to need to use at the federal level not just a commitment for cooperation which we have under my government but also additional levers (being outlined to the provincial and territorial premiers tomorrow),” the new prime minister said today.
Meeting with premiers tomorrow:
The meeting will be “about getting things done” including trade corridors.
The commitment is to deliver projects that are national priorities including through federal legislation.
He will outline “additional levers” to the premiers tomorrow, said Carney.
The country will need to be “as competitive as possible” including in energy, manufacturing and AI –working with industry and provinces.
Trade routes to export critical minerals are one of many considerations.
Election coming soon:
He is expected to call the election on Sunday, with Canadians finding themselves in a federal election on Monday March 24.
The election can be 35 to 51 days long. That would set the General Election Day as April 28 or May 5.
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