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RESCON issues three-step proposal to boost Ontario’s housing supply

VAUGHAN, Ont. – The Residential Construction Council of Ontario (RESCON) is looking to address the province’s issues around housing supply and affordability with the issuing of a three-step proposal for Ontario’s political leaders.

The proposal advocates for the government to reduce taxes, fees, levies and development charges on new housing, simplify and shorten the processes of the province’s development approvals system and invest in offsite construction.

RESCON’s proposal focuses on motivating leaders to target tax reduction when it comes to GST and HST on owner-occupied housing, especially for first-time homebuyers, in addition to suggesting that RRSP funds be permitted for purchasing principal residences from first-time homebuyers or those looking to downsize.

“Last year was a painful year for housing construction and, at the rate we are going, we’re not even close to fixing the crisis,” said RESCON’s president Richard Lyall. “Ridiculous red tape, along with excessive fees, taxes, levies, development charges and bureaucracy are choking housing supply and pushing home ownership out of the reach of many. Builders often must wait years to get approval for projects. This is a major pinch point that is unnecessary and slows construction of new homes.”

The proposal also hopes to support companies looking to build more modular housing manufacturing plants in Canada by encouraging government leaders to introduce financial assistance and tax breaks incentives for players in this industry.