2.12.21 - “In close partnership with municipalities, a re-elected PC government will also update its Housing Supply Action Plan annually to identify and implement additional levers that will get more homes built faster”
In April 2023, the Ford government passed the Helping Homebyers, Protecting Tenants Act, which was an update and adjustment to their housing supply action plan in an effort to achieve their goal of more homes being built. While the government is taking action, given that the promise indicates a commitment to action throughout the term, the promise remains in progress.
“Our government has made significant progress in tackling Ontario’s housing supply crisis – and we’re far from done. We have introduced a range of bold and transformative measures over the past three years to increase housing supply and we can see their growing and positive impact.[…] These positive trends are a result of the policies our government has championed – but we know that more needs to be done in order to reach our goal of 1.5 million new homes by 2031. That’s why our government promised to update and adjust our housing supply action plan throughout our current mandate, so we can continue to make progress toward that goal.”
“The Ontario government introduced legislation that would give the mayors of Toronto and Ottawa more responsibility to deliver on shared provincial-municipal priorities, including building 1.5 million new homes over the next 10 years.”
“To prioritize Ontario families and homebuyers, we are increasing the Non-Resident Speculation Tax rate from 15 to 20% and expanding the tax to apply provincewide effective March 30, 2022. […] We will also consult on potential measures to address concerns related to land speculation. For example, we will be exploring ways to discourage construction slowdowns that may be artificially driving up prices of new homes for Ontario families through land speculation.”