Fraser says housing measures coming in budget update, weighs in on short-term rentals | CityNews Calgary
Housing Minister Sean Fraser says the federal authorities will reveal extra housing measures within the fall finances replace and within the coming months.
In a news convention on Monday, he additionally weighed in on how the federal authorities can handle the pressure short-term leases are placing on housing affordability.
“You should expect to see additional measures on housing in the fall economic statement. You should expect to see additional measures more broadly in the months ahead as they are ready. I’m not going to wait and hold them for some magic date, where we suddenly release all of the policies at once,” Fraser stated.
Some of the measures which might be anticipated embrace tying federal infrastructure spending to housing outcomes in native communities. Fraser additionally stated there shall be extra insurance policies geared towards rising the inventory of social housing, and rising employees’ expertise and innovation within the development trade.
“There’ll be a series of other measures that we seek to address around the financialization of housing as well,” Fraser stated.
Last week, Finance Minister Chrystia Freeland applauded the B.C. authorities for going after short-term leases and stated the federal authorities was what it could do to assist make extra of those items obtainable as long-term leases.
Fraser stated the federal authorities might use taxation to discourage short-term leases and fix situations to federal funding for different ranges of presidency.
“We could potentially leverage federal programs, include taxation, include the federal spending power to incentivize other kinds of behaviour,” he stated, however added that no selections have been made but.
Freeland has not introduced the date for this 12 months’s fall financial assertion but however it’s anticipated within the coming weeks.
The federal authorities is underneath stress to deal with the housing disaster and has created insurance policies aimed toward constructing extra housing, together with eradicating the GST on purpose-built leases and unlocking extra low-cost financing for dwelling development.
It has additionally reached offers with municipalities in latest weeks as a part of the housing accelerator fund, a federal program that awards funding to cities primarily based on their plans to spice up their housing inventory.
This report by The Canadian Press was first revealed Oct. 23, 2024.
Nojoud Al Mallees, The Canadian Press
