Ontario Premier Doug Ford says his government will unveil details Wednesday about potential changes around HST rules for homebuyers.
“Just stay tuned until tomorrow. We’ll have a press conference and then we’ll be announcing what our plans are,” Ford told reporters when asked Tuesday whether he will expand an HST break for first-time home buyers to all homebuyers.
“We just want to make it more affordable for families across Ontario to be able to buy a home or condo.”
While he wouldn’t disclose details about the plan, Ford said it would “give a real boost to the building and construction trade” and create “more opportunity for people to buy a home.”
In the fall economic statement, the province said it would work with the federal government on a proposal to remove the HST for first-time homebuyers on homes valued up to $1 million.
Opposition leaders criticized the move at the time as not being ambitious enough.
There have been reports that the government could extend the measure to give all buyers of new homes a break on the HST.
Speaking with reporters at Queen’s Park Tuesday, Finance Minister Peter Bethlenfalvy said he wouldn’t speculate on any possible announcements.
However he did say affordability in the housing sector is important right now.
“Affordability is an important issue in Ontario for many people who dream of owning a home,” Bethlenfalvy said.
“It’s also important for the construction industry when nothing’s getting built, and particularly three or four years from now that there’s some stimulus to the market, so to support our construction workers and the industry and a real stimulus to the market.”
