Jennifer McKelvie
Ajax, Ontario · Liberal · Canada
“Mr. Speaker, I would like to share the good news that the build Canada homes act, Bill C-20 , has just passed the Senate. This is another great initiative we have under way to bring down the cost of housing and, in particular, rent.”
“Mr. Speaker, there is some good news. I would like to point out that housing starts are 3% higher than in the same period last year. Completions have increased by 10%, meaning more homes are being finished. We are seeing growth in places like B.C., Ontario and Montreal. New construction is up by about 18%.”
“Mr. Speaker, I want to start by thanking all our partners in housing, the municipalities, provinces, indigenous communities, planners, builders and everybody else who is working together, because the trends are indeed moving in the right direction. Housing starts are up, housing sales are up, and rents are down.”
“These federal funds would be transferred to provinces and territories to be used exclusively for measures that increase housing supply, including but not limited to reducing development fees or levies on new home construction and making incremental investments in provincial and territorial programming already in place to spur housing deve…”
“A tangible example of this is a recent agreement with the Province of Ontario that reflects our commitment to help municipalities reduce development charges by 30% to 50% or more. These types of costs directly affect whether housing projects move forward.”
“In response, our government remains focused on solutions and on doing the hard work to support our communities, our industries and Canadians. The current government was elected on a strong mandate to build, and a key area of focus for the Prime Minister and our whole caucus is easing the housing crisis.”
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“Mr. Speaker, I would like to share the good news that the build Canada homes act, Bill C-20 , has just passed the Senate. This is another great initiative we have under way to bring down the cost of housing and, in particular, rent. I would like to share that rents have fallen for 20 consecutive month and are down nearly 8% from their peak last year. We are seeing them decline in a number of provinces, including decreases of 1.8% in Quebec, 3.9% in Alberta, 5.7% in British Columbia and 6% in Ontario, where the member is from.”
“Mr. Speaker, there is some good news. I would like to point out that housing starts are 3% higher than in the same period last year. Completions have increased by 10%, meaning more homes are being finished. We are seeing growth in places like B.C., Ontario and Montreal. New construction is up by about 18%. We also know that sales are up as well and that the measures we put in place, such as the first-time homebuyers GST reductions and the HST reductions that are happening in Ontario, are working.”
“Mr. Speaker, I want to start by thanking all our partners in housing, the municipalities, provinces, indigenous communities, planners, builders and everybody else who is working together, because the trends are indeed moving in the right direction. Housing starts are up, housing sales are up, and rents are down. Things are moving in the right direction, thanks to everybody who is working hard together for Canada.”
“Mr. Speaker, there is good news for Ontario residents and for the residents of Guelph. The deal that we have made with the Province of Ontario will be backdated to April 1 of this year. All new homes purchased since then will have a waiver of the HST. As I mentioned, that is the equivalent of saving $130,000 on a $1-million home. We are not stopping there. We also have affordable housing projects that are under way, from coast to coast to coast, including in Guelph. We look forward to working with the member so that we can have shovels in the ground in her community.”
“Mr. Speaker, I am so excited that the legislation for Build Canada Homes has passed through the House. It will enable them to increase the tools that are available to them for financing affordable housing across this great country. They will have new tools that they did not have before. They will be able to go beyond grants and beyond loans. They will be able to really look forward at things like guarantees and equity and a whole bunch of different financial tools that were not available to them before. We all look forward to the ramping up of this great new agency and building affordable homes across the country.”
“Mr. Speaker, we have a comprehensive approach to addressing housing in this country, and with this bill we would help provinces and territories remove barriers that are holding back homebuilding. This includes measures such as lowering development charges, fees, levies or sales taxes on new homes. It would also support efforts to harmonize rules, improve internal trade and increase productivity in the residential construction sector. The bill would build on the work we are doing with Build Canada Homes to catalyze a new industry of modern methods of construction, accelerate the construction of affordable housing and build on the work we are doing with the provinces to lower development charges.”
“Bill C-26 would help bridge the gap between national ambition and local delivery, with targeted funding for provinces and territories to accelerate housing starts. By empowering our partners, we can build more homes faster and help ensure that every Canadian has a place to call home. Bill C-26 has been designed to unlock new housing supply across the country. Its passage would ensure that the needed funds contained in the legislation would get to the provinces and territories more quickly. I urge all members of this great House to support the legislation.”
“As part of tax relief efforts, the Ontario government, thanks to federal support tied to the bill, plans to rebate the full 13% harmonized sales tax on new homes valued up to $1 million, saving buyers up to $130,000. This has already had a positive impact on home sales, as the low-rise sector surpassed its 10-year average for the first time in three years, according to BILD, the Building Industry and Land Development Association. With the passage of this legislation, we could continue to make a positive impact across the country based on the local needs and priorities of the provinces and territories. Addressing Canada's housing crisis requires more than a one-size-fits-all approach. It demands a unified, all-hands-on-deck effort rooted in partnership, flexibility and immediate action.”
“(2110) These projects would also mean thousands of jobs for labourers, carpenters, plumbers, framers and other workers across the country. They would mean opportunities for local suppliers and local businesses. At a time when our economy faces the risks of an uncertain world, the government is making the choice to invest in ourselves and to strengthen Canada. Bill C-26 would help to further address these pressures. The $1.7 billion proposed in the legislation would give provinces and territories the flexibility to take targeted action to unlock housing supply quickly and effectively where the communities need it most. This funding could and would make a real difference. Ontario's recent HST rebate announcement on new homes is a key example of how these transfers would improve supply.”
“A tangible example of this is a recent agreement with the Province of Ontario that reflects our commitment to help municipalities reduce development charges by 30% to 50% or more. These types of costs directly affect whether housing projects move forward. They have a direct impact on the economics that determine whether a project proponent moves forward with construction now or waits until another construction season. When we talk about thousands of units across the country, we are talking about real places that people will be able to call home. Whether it is families or young people getting their first start, seniors, or individuals who find themselves in need, thanks to the work of the government, these individuals will have the stability, the opportunity and the safety that having their own home provides.”
“Other measures, including targeted tax relief such as removing the 5% GST on new purpose-built rental construction, are lowering upfront costs and helping projects move forward. Programs such as the apartment construction loan program and CMHC's mortgage loan insurance projects help builders secure the capital they require to keep building, while the housing accelerator fund helps to unlock supply by cutting red tape and speeding up approvals. We are also investing in the infrastructure that makes housing possible. The Canada housing infrastructure fund and the new build communities strong fund support housing-enabling infrastructure, including water and waste-water systems, because homes cannot be built without the underlying systems that support them.”
“Its “Spring 2026 Housing Supply Report” showed that housing starts increased by 6% in 2025, driven by record levels of rental construction, construction completions and growing activity in missing middle housing. These are encouraging signs, but we know we have more work to do. We have implemented several federal initiatives to increase housing supply. Last week, the House passed legislation to establish Build Canada Homes as a Crown corporation with the mandate to scale up the supply of affordable housing nationwide. In less than a year, Build Canada Homes has already advanced thousands of projects across the country to increase Canada's affordable housing supply. Soon, Build Canada Homes will have even more tools to get housing built across the country.”
“These federal funds would be transferred to provinces and territories to be used exclusively for measures that increase housing supply, including but not limited to reducing development fees or levies on new home construction and making incremental investments in provincial and territorial programming already in place to spur housing development. Across the country, far too many Canadians are struggling to find a home they can afford. That is why we are taking action on multiple fronts to tackle the housing crisis. We are cutting red tape, investing in housing-enabling infrastructure and modernizing the homebuilding sector. Bill C-26 is part of that broader approach. We have seen encouraging signs of progress in many parts of the country, and the Canada Mortgage and Housing Corporation confirmed that there is cause for optimism.”
“In response, our government remains focused on solutions and on doing the hard work to support our communities, our industries and Canadians. The current government was elected on a strong mandate to build, and a key area of focus for the Prime Minister and our whole caucus is easing the housing crisis. Put simply, far too many Canadians are struggling to find a home they can afford. Bill C-26 is an important part of our comprehensive plan to address this decades-old issue, which is why we need to get it passed and to get it passed quickly. The legislation would authorize the Minister of Finance to make immediate payments to provinces and territories to support measures to increase housing supply. The proposed funding, totalling just over $1.7 billion, would help make housing more attainable for Canadians.”
“Mr. Speaker, I am delighted to say that I will be sharing my time with the member of Parliament for Trois-Rivières whom I have the great honour of working with in our shared roles as parliamentary secretaries to the Minister of Infrastructure and Housing. I am thankful for the great privilege to speak today to Bill C-26 , an act to authorize certain payments to be made out of the consolidated revenue fund for the purpose of improving housing supply. Over the past year, Canadians have navigated a rapidly changing and increasingly fragmented world, and Canada is not immune to the economic uncertainty that this has caused. We are dealing with a new reality that is more complex, more volatile, and for many people, more costly and unpredictable.”
“Mr. Speaker, this is a timely question, as it is Filipino Heritage Month. As the member knows, we are making historic investments in infrastructure with the build communities strong fund. We are investing from coast to coast to coast. We look forward to working alongside that member and alongside communities so that we can build Canada strong.”
“Mr. Speaker, I want to start by saying that the Gordie Howe International Bridge is a vital economic link between Canada and the United States. As we work toward an opening date, we are taking a collaborative approach, reflecting our shared ambition for this important trade corridor. As an entire team, we are committed to the timely opening of the bridge, and I hope the member opposite is ready to work with us to deliver on this important national infrastructure project as we take a team Canada approach.”
“Mr. Speaker, when we invest in the skills and experience of youth today, we create a stronger, more competitive workforce and drive long-term prosperity for the future. The federal government is creating thousands of jobs for young Canadians and will create thousands more. We are well aware that our economic future depends on the success of the work we do today as government. We have programs like Canada summer jobs, the youth employment and skills strategy program, and the student work placement program that are all helping young Canadians develop work-ready skills through hands-on experience and training. This will put youth on a path to meaningful careers. These programs, combined with our new team Canada strong skilled trades initiative, will strengthen the workforce of tomorrow. The evidence could not be clearer.”
“Budget 2025 also invests $635.2 million over three years for the student work placement program. It will support around 135,000 work-integrated learning opportunities for youth who are enrolled in post-secondary education over a three-year period. I could say more, but I will pause here. These results are ongoing and these programs are helping youth find in-demand skills and improve their job prospects. This is why, working with our partners, we must ensure they are equipped with the skills and opportunities needed to thrive. We will do that.”
“With budget 2025, we are doing more to help Canada's youth launch successful careers and more to get those unemployment figures down. Starting this year, we are investing $594.7 million over two years to create more Canada summer jobs. The program will create and support up to 100,000 summer jobs this year. We have also earmarked $307.9 million for the youth employment and skills strategy. This will be another two-year investment starting this year to provide training and jobs to around 20,000 youth annually. Programs delivered under the youth employment and skills strategy are especially beneficial to youth facing barriers to employment. By that, I mean youth who live in rural and remote areas, youth with disabilities, newcomer youth and racialized youth. Those are just a few examples.”
“Mr. Speaker, we are helping young Canadians build their futures and we are making a generational investment in them. We are making these investments because we need to make sure that young Canadians secure a solid footing in the ever-changing job market. In doing that for them, we are doing it for all of Canada and for all Canadians. The 2026 spring economic update reaffirms this with a new $6-billion investment in a nationwide effort to recruit, train and hire up to 10,000 new Red Seal skilled trades workers in the next five years, creating opportunities that will align with Canada's housing, infrastructure and defence needs. As we ride an unprecedented wave of retirements, the young Canadians embarking on careers will be the drivers of Canada's future economic growth.”
“The Amalgamated Transit Union said, “Bill C‑14 delivers long-fought victory for every ATU Canada transit worker”. It also said, “For the first time, the Criminal Code of Canada recognizes that every transit worker, not just operators behind the wheel, deserves the full protection of the law.””
“Mr. Speaker, I am happy my colleague brought up transit workers. I know that as a Toronto MP, he is very committed to ensuring the safety of the TTC. I would like to point out that as acting mayor in 2023, I worked with Toronto council to call on the federal government to make bail harder to obtain for repeat violent offenders, and we are delivering that today with Bill C‑14 . In addition, I worked with the Amalgamated Transit Union as a member of the TTC commission to advocate for stricter sentencing so that when the victim of the offence is a public transit operator or any other transit worker, we consider that an aggravating factor. Bill C‑14 would expand the federal Criminal Code to protect transit workers in all different disciplines.”
“Mr. Speaker, we know that we need to do more to address homelessness in Canada, and that is why, with Build Canada Homes, we are investing $1 billion in supportive and transitional housing to help those who need it the most. Those are, in many cases, individuals suffering from mental health and addictions who need those wraparound supports, who want to come in off the street and improve their lives, but we need to ensure they have housing and services available to them. The good news is that we are getting closer to passing Bill C‑20 today, the Build Canada Homes act, and we look forward to working with everybody from coast to coast to coast to build that important housing that Canadians need.”
“Mr. Speaker, the Senate heard from witnesses, and we feel its amendment is reasonable and fair and addresses some of the concerns it heard. We have heard loud and clear from municipal leaders, police chiefs, transit workers, victims advocates, business owners and communities that we need to strengthen Canada's bail system, we need to toughen sentences for serious and violent crimes, we need to modernize the youth criminal justice system and we need to strengthen military justice. We feel that Bill C‑14 would do all of that.”
“It would provide stronger tools to address violent offending, strengthen responses to extortion and organized criminal activity and enhance protections for communities, and it would do so while respecting judicial discretion, constitutional protections and the fundamental principles of our justice system. The Senate has completed its work. The House now has the opportunity to complete its work. We can accept some of these amendments and improve this bill. We propose a targeted modification where appropriate. We respectfully reject an amendment that would be unnecessary because the existing law already accomplishes its objective. We encourage all members of the House to support the motion before us so that Bill C-14 may proceed without delay and Canadians can benefit from these important reforms.”
“None of them would change the core public safety measures contained the legislation or Parliament's commitment to addressing serious violent crime, organized crime, extortion or human trafficking. Canadians are looking to Parliament for action. They are looking for results. Police leaders have called for action. Provincial governments have called for action. Municipal leaders have called for action. Victims advocates have called for action. Community organizations have called for action. Canadians expect us to respond. Bill C-14 represents an important step forward.”
“For those reasons, the government believes the amendment is unnecessary, and respectfully disagrees with it. The final amendment concerns the coming into force of provisions related to youth records. The government supports this amendment. Implementation matters. When Parliament enacts significant changes, justice system partners, police services, prosecutors and provincial and territorial partners require time to prepare. The amendment would provide flexibility to ensure that these provisions are implemented effectively and reasonably. When we step back and look at the amendments as a whole, an important point becomes clear. None of these amendments would alter the fundamental objectives of Bill C-14 .”
“The third amendment concerns proposed subsection 515(13.2). The government respectfully disagrees with this amendment. The amendment would require a justice to ask on the record whether section 493.2 applies, even when neither party raises the issue. The objective behind the amendment is understandable. However, existing law already addresses the issue. Parliament previously enacted subsection 515(13.1), which requires courts to state on the record how section 493.2 was considered in making a bail decision. As a practical matter, compliance with that provision already requires consideration. The proposed amendment, therefore, would duplicate obligations that already exist. It would not create a new protection or right, and it would not alter the legal analysis requirements at bail.”
“At the same time, the Senate amendment would also require the minister to consult individuals and organizations with expertise in data collection in the criminal justice system, including Statistics Canada. The government proposes modifying this portion of the Senate amendment. The reason is straightforward. The minister already possesses the ability to engage with experts, stakeholders and partners as required. Nothing in the legislation would prevent that engagement. Indeed, effective policy development routinely involves collaboration with experts and partners. However, creating a statutory consultation requirement is unnecessary and could reduce flexibility in the preparation of future reports. For that reason, the government proposes retaining the reporting enhancements while removing the mandatory consultation requirement.”
“It would preserve the rule while allowing courts to address exceptional circumstances. There would be reasonable balance. The second amendment concerns bail reporting. Members will recall that the House adopted an amendment requiring annual reporting respecting bail data. The Senate proposed expanding that reporting framework by including information related to rates of detention before trial. The government supports that proposal. Good public policy depends on good information. Parliamentarians should have access to meaningful data. Canadians should have confidence that decisions are informed by evidence. Including information regarding pretrial detention could help provide a more complete picture of how the bail system operates across the country.”
“Individuals convicted of indictable offences would remain prohibited from acting as sureties. The Senate amendment would not remove that prohibition. It would not undermine that prohibition. It would not create a broad exception. Instead, it would create a narrow exception that may be used only when specific conditions are met. (1720) During the Senate study, witnesses raised concerns about how an absolute prohibition might operate in certain remote, rural and northern communities. In some communities, particularly in Canada's north, the pool of potential sureties can be extremely limited. The Senate heard testimony suggesting that an inflexible rule could create practical difficulties in circumstances where no other surety exists. The amendment would recognize those realities while maintaining the overall objective adopted by the House.”
“The Senate heard testimony from a wide range of witnesses. It reviewed the legislation carefully. It proposed amendments where senators believed refinements were warranted. The House now has an opportunity to consider those amendments. The first amendment before us today concerns sureties. As members know, the House adopted an amendment that would prohibit a person convicted of an indictable offence within the previous 10 years from acting as a surety. The Senate amendment would maintain that prohibition while allowing a court to exercise limited discretion in exceptional circumstances when no other surety is available and when doing so would be in the interest of justice. The government supports this amendment. It is important to understand why. The objective of the original House amendment remains intact.”
“The legislation takes a targeted and measured approach. It would strengthen bail provisions for certain serious offences. It would respond to repeat violent offending. It would create stronger sentencing measures for extortion and arson committed for criminal purposes. It would strengthen protections related to human trafficking. The bill includes measures aimed at improving public safety while maintaining judicial discretion and preserving charter protections. Importantly, Bill C-14 is not the product of a single political party acting alone. Throughout the legislative process, members from different parties have contributed to the bill. Amendments were proposed. Suggestions were considered. Improvements were made. The result is stronger legislation. That collaborative approach continued in the Senate.”
“Mayors across the country have called for stronger tools to address public safety challenges in their communities. In 2023, as the acting mayor of the City of Toronto, I joined in that advocacy. Provincial and territorial governments have repeatedly called on the federal government to review the criminal law framework and ensure that serious violent offending is met with an effective response. Police associations and police leaders have echoed those calls. The Canadian Association of Chiefs of Police has repeatedly raised concerns about repeat violent offending and organized criminal activity. Provincial police associations have called for reforms that strengthen public confidence in the judicial system while maintaining respect for constitutional rights and judicial independence. Bill C-14 is Parliament's response to those concerns.”
“They have told us that human trafficking continues to devastate lives. They have told us that repeat violent offending remains a serious concern. They have told us that assaults against frontline workers continue to occur far too frequently. These concerns are not isolated to one province or one city. They are national concerns. In recent years, we have seen a dramatic increase in extortion offences across Canada. Businesses have been targeted. Families have been threatened. Communities have been shaken. Law enforcement agencies have repeatedly warned Parliament about the growing sophistication of organized criminal networks, as well as the challenges of combatting them. Canadians are calling for bail reform, and with this bill, we will deliver. We have heard concerns from municipal leaders.”
“Before discussing the specific amendments, however, it is worth reflecting on why Parliament embarked on this work in the first place. Over the last number of years, Canadians from every region of the country have raised concerns about public safety. Those concerns have come from municipal leaders. They have come from premiers. They have come from police chiefs. They have come from transit workers. They have come from victims advocates. They have come from business owners. They have come from families who have experienced the impacts of crime in their communities. In community after community, including in my community of Ajax, Canadians have told us that the status quo is not acceptable. They have told us that organized crime is becoming more sophisticated. They have told us that violent extortion is becoming more common.”
“Mr. Speaker I am pleased to rise to speak to the message from the Senate concerning Bill C-14 , the bail and sentencing reform act. Today's debate is not about whether Bill C-14 should proceed. Both chambers of Parliament have now spent considerable time studying this legislation. The House of Commons debated it, the Standing Committee on Justice and Human Rights studied it, witnesses testified, amendments were proposed and considered, and the Senate has now completed its review. The question before us today is how we should respond to the amendments proposed by the Senate. As I will outline, I believe the House is thoughtful. The recommendations from the Senate are thoughtful. They are measured and entirely consistent with the objectives of Bill C-14 .”
“Mr. Speaker, we are focused on doing the hard work of building our country and building our economy. Two weeks ago, our government announced $350 million in housing and infrastructure investments in the Yukon to deliver stronger communities in the north. Three weeks ago, we announced $61 million in funding for high-speed Internet projects in northern Manitoba. Four weeks ago, we celebrated station construction being under way at all eight stations along the Surrey Langley SkyTrain extension. We are doing the hard work from coast to coast to coast to build Canada. All they want to do is tear it down.”
“Mr. Speaker, at this moment, our government is making important investments in communities throughout Ontario, and these investments are going to create jobs for all Canadians. We know it is time to invest in Ontario. This is why we are investing in the Black Creek sanitary trunk sewer, the Kitchener central transit hub, the downtown connection hub in the city of Barrie, the Scarborough subway, the Hamilton LRT and the Darlington nuclear power plant. All of these are in Ontario, where the member is from. We care about Ontario, and it is time to invest.”
“Mr. Speaker, we thank the member for his advocacy for British Columbia. I am aware that the letter he sent to the department has been received. We are looking forward to having conversations about how we can continue to invest in British Columbia and how we can continue to invest in Canada. We were elected with a mandate to build Canada strong, and we will proceed with doing that.”
“Mr. Speaker, in every corner of this country, from coast to coast to coast, we are seeing work on incredible projects that strengthen our economy while creating good jobs: the expansion of the Port of Montreal, the Darlington nuclear facility, the Mersey River wind farm project in Nova Scotia, the Scarborough subway extension, the Hamilton LRT and the upgrade of the Cambie Street Bridge in Vancouver. We are investing in Canada to build Canada strong.”
“Mr. Speaker, our Prime Minister has been clear: It is time to invest to build Canada strong. I will point out that in that member's riding, that includes the Black Creek sanitary sewer, which will expand waste-water servicing capacity to the Black Creek watershed. This is just one of the many projects that we have under way to build Canada strong. We are investing in infrastructure, and we are investing in housing. We are making these important investments in communities across Ontario so that we can create jobs and economic prosperity for all Canadians.”
“Mr. Speaker, on this side of the House we believe now is the time to invest and build our communities. We are creating jobs while building housing and building infrastructure. I wonder if our colleague from Alberta could let us know what projects she would cut from our budget. Is it the investment to rural communities across Alberta to expand fleets and transit services, and plan for the future? Is it the new Japanese community centre in Calgary? Is it $3 million to improve treatment services at the Conklin water treatment plant in the Regional Municipality of Wood Buffalo, Alberta? What would the Conservatives plan to cut?”
“Mr. Speaker, May is Multiple Sclerosis Awareness Month, a time for the MS community to come together and raise awareness about this neurological disease. Canadians are wearing carnations today because they are a symbol of hope for the MS community. Everyone's experience with the disease is different. The symptoms, severity and effectiveness of treatment can vary, which is why the work of MS Canada is so important. Canada has one of the highest rates of multiple sclerosis in the world, with more than 90,000 Canadians living with this disease, including my mother, who has been paralyzed by MS. This is a pivotal moment for Canada to invest in MS research. The latest science provides hope that MS can be prevented in our lifetime. Let us work together to build a stronger future for Canadians with multiple sclerosis.”
“Madam Speaker, when Conservatives talk about spending, they ignore the fact that these are investments that build communities and the infrastructure that we need. The member opposite is from Ontario. I would like to know what projects he would like to cancel. Is it our commitment to GO 2.0? Is it the Scarborough subway extension? Is it the Hamilton LRT? Is it the Darlington nuclear project? Is it the critical minerals strategy for northern Ontario? If the Conservatives do not believe now is the time to build and invest, they can get out of the way. We are ready to invest in Ontario.”
“Madam Speaker, on this side of the House, we believe that now is the time to invest in and build our communities. My colleague is from Alberta. Can he explain to Albertans which projects he would like to cut? Is it water infrastructure to support the community of St. Albert? Is it the new Japanese community centre in Calgary? Is it 355 affordable homes in Edmonton, made possible by Build Canada Homes? What is it he wants to cancel? We want to invest.”
“Madam Speaker, I should also mention another important affordability measure to support those most affected by the rising price of food. In January, the government announced the new Canada groceries and essentials benefit to help more than 12 million Canadians afford day-to-day essentials. The benefit builds on the existing GST credit and will provide additional support through a one-time top-up payment to be issued on June 5, equal to a 50% increase in the annual 2025-26 value of the GST credit. Combined with a 25% increase in the value of the GST credit for the next five years, this means that a family of four would receive up to an additional $1,890 this year and about $1,400 a year for the next four years, and a single person would receive up to $950 this year and about $700 a year for the next four years.”
“For new homebuyers, the update proposes to extend the grace period before starting repayments on the homebuyers' plan withdrawals from RSPs from two years to five years for participants making a first withdrawal between January 1, 2026, and December 31, 2028. This would provide cash flow relief of up to $4,000 per individual per year for the additional three years they are no longer required to start repaying the amount into their RRSP. This follows the recent elimination of the GST for first-time homebuyers on new homes up to $1 million and the reduction of GST for first-time homebuyers on new homes between $1 million and $1.5 million, providing savings of up to $50,000. These are just some of the ways the government is helping to make life more affordable for Canadians.”
“Now I would like to talk about some of the new measures announced in the April 28 spring economic update that will help make life more affordable for Canadians. For one, the update announced the government's intention to introduce legislative amendments to the Canadian pension plan to reduce the contribution rate in the base CPP from 9.9% to 9.5%, effective next January 1. This would translate into annual savings of about $133 for an employee earning $70,000 a year, with an equivalent savings for their employer for each worker. This change was agreed to by provincial ministers of finance as co-stewards of the plan, and it would maintain a prudent financial buffer to protect the CPP against future economic and demographic risks while providing meaningful contribution relief.”