They say that imitation is the sincerest form of flattery.
Trudeau, of course, isn’t the first prime minister to shell out taxpayer dollars for home renovations. First introduced as a temporary measure in 2009, the Harper government’s Home Renovation Tax Credit was snatched up by over three million Canadians, pumpinginto a crisis-hit residential renovation sector. Harper subsequently pledged to make the popular credit permanent heading into his ill-fated 2015 re-election campaign.
While undoubtedly a hit with the HGTV crowd, Harper’s home renovation credit was less well received in progressive circles. The editorial board of the Liberal-friendly Globe and Mailthat the credit was a “regressive” and “economically illogical” measure that would amount to “a permanent tax break for homeowners” bankrolled by renters. “Absent a repeat of the worst downturn since the Great Depression,” the board continued, “there’s no logic in reintroducing this crisis measure.
Surely, the same exact things can be said about the Trudeau government’s new tax credit. The nation’s housing market may be softening, but we’re still nowhere near Great Recession territory. And renters are, once again, the one’s getting shafted by yet another regressive housing policy. The rather meagre credit will likewise do little to make housing more affordable in Canada — $7,500 is barely enough to install a new gas stove in nana’s suite .
Nor does the credit fill a major unmet demand among Canadians. Multigenerational households may be on the rise, but this isn’t by choice. According to a study, 70 per cent of Canadians between the ages of 18 and 28 hope to own a single-family home one day. . Rather than shoehorning Canadians into multigenerational living arrangements, the Trudeau government would be well-advised to take broad-based action to reverse our housing affordability crisis.
While the economic logic behind the new home renovation credit might not add up the political logic is undeniable. New Canadians are more than twice as likely than other Canadians to live in multigenerational homes, according to. The communities that will benefit the most from the credit are — surprise, surprise — key electoral battleground ridings in Southern Ontario’s 905 region. About 28 per cent of households in Brampton and 23 per cent of households in Markham are multigenerational homes.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Naqvi-Mohamed: Six years after the Quebec City mosque shootingThere have been welcome changes\u003B at the same time, much has stayed the same. The need to build bridges remains.
Read more »
The Blue Chapter: Iris Trio presents latest part of epic, multi-year project\u0022On the one hand, you marvel at the beauty you see. On the other hand, you are constantly reminded that our natural ecosystems are in an accelerating decline,\u0022 Hoefner says. \u0022Writing music about it has become a way to deal with this dichotomy. It allows me to portray the beauty, but also to draw attention to the dangers.\u0022
Read more »
Multi-year budget proposal for Quinte WestSaying it provides greater transparency, Quinte West has released its first multi-year budget report. The budg...
Read more »
Forge FC signs star goalkeeper Triston Henry to new multi-year contractForge FC signs goalkeeper Triston Henry while Cavalry FC keeps midfielder Sergio Camargo, forward Joe Mason
Read more »
'This shouldn't be an issue': Delay in Canadian export permit could cost B.C. businessman his companyWith a multi\u002Dmillion dollar order due to ship Thursday, Current Corp. stands to lose a multi\u002Dmillion dollar contract
Read more »
'This shouldn't be an issue': Delay in Canadian export permit could cost B.C. businessman his companyWith a multi\u002Dmillion dollar order due to ship Thursday, Current Corp. stands to lose a multi\u002Dmillion dollar contract
Read more »