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Liberal GST holiday expected to pass soon as government introduces solo bill

The article from The Globe and Mail discusses the Canadian Liberal government's plan to temporarily remove the GST from new rental housing construction, a move aimed at addressing the housing crisis. This initiative, known as the GST holiday, is expected to pass soon after the government introduced a motion to fast-track the legislation. The proposal has garnered support from opposition parties, including the NDP and the Conservatives, who have been pushing for such measures to alleviate housing affordability issues. The legislation would suspend GST on new rental apartment buildings, student housing, and senior residences for a period, with the goal of encouraging more construction in these sectors. Critics, however, question the effectiveness of this measure in significantly increasing housing supply or reducing costs for renters in the short term. The article also mentions that this legislative move is part of a broader strategy by the Liberals to tackle economic issues ahead of potential election pressures.

Read the Full The Globe and Mail Article at [ https://www.theglobeandmail.com/politics/article-liberal-gst-holiday-expected-to-pass-soon-as-government-introduces/ ]