The Government of Newfoundland and Labrador is asking Ottawa to intervene and help alleviate the current housing crisis in Newfoundland and Labrador.
Finance Minister Siobhan Coady has asked the federal government to consider tax options to encourage the construction of new rental housing units. She suggests either tax base adjustments, or providing a full rebate of the GST/HST from the cost of new residential construction.
Over the last two years, Coady says more than 750 new housing options have been created or are underway throughout the province. Government also brought in a new, three-year, $70 million Affordable Rental Housing Program to build over 850 new rental homes, which was launched in June.
Housing needs to be more affordable, and I have long been talking about the shortage of housing with my fellow premiers and federal colleagues. Removing the provincial portion of HST on new rental builds will help, so our province is asking Ottawa to take off HST entirely. pic.twitter.com/tUUqk4ulby
— Premier of NL (@PremierofNL) September 14, 2023