Developers Hail GST Freeze on Rental Builds as a ‘Big Move,’ but Will It Solve Shortages?

Deputy Prime Minister and Minister of Finance Chrystia Freeland and Minister of Housing, Infrastructure and Communities Sean Fraser announce a bill to remove GST from rental developments and amend Canada's competition laws, at a press conference in Ottawa, Sept. 21, 2023. Patrick Doyle/The Canadian Press

Housing industry players are divided over the Liberals’ new plan to speed up rental builds by freezing related GST surcharges, with some calling it a “game changer” and others saying it won’t make a dent.

 “The intent of it is to increase supply. It won’t,” Paul Smetanin, president and CEO of the Canadian Centre for Economic Analysis (CANCEA), told The Epoch Times.