Today, I, as the Leader of the Official Opposition, am calling on the provincial government to swiftly act in removing the provincial portion of the Harmonized Sales Tax (HST) from new rental builds in Prince Edward Island.
This measure serves as a critical and immediate solution to address the pressing housing crisis faced by Islanders. The lack of available rental housing has reached alarming levels in our province, leaving many families and individuals struggling to find suitable homes that fit within their budget. The high costs associated with renting have placed an enormous burden on our residents, hindering their ability to find suitable housing.
By removing the provincial portion of the HST from new rental builds, government can incentivize developers to prioritize the construction of rental units, thereby increasing the housing stock available to Islanders. The reduction in tax burden will make such projects more financially feasible, encouraging investment in much-needed rental housing. This, in turn, will help alleviate the strain on our housing market and create a positive ripple effect throughout our economy.
It's time for the Conservative government to address the housing crisis by taking immediate action and implementing a constructive solution. Removing the provincial portion of the HST from new, long-term rental builds provides an immediate solution to increase our housing stock, benefiting tenants and incentivizing developers.
This is a practical and effective way to expedite the process and quickly provide much-needed relief to Islanders struggling with housing affordability. Housing is a fundamental human right, and it is government’s duty to ensure that all citizens have access to safe, attainable housing. The removal of the provincial portion of the HST represents a tangible and impactful way to demonstrate our commitment to addressing this urgent issue.
It is time for the government to prioritize the needs of Islanders and act in their best interests. I call upon the government to respond to this pressing issue promptly. The longer they delay, the more families and individuals will continue to suffer the consequences of the housing crisis.
Official Opposition Office