Canadian Finance Minister Chrystia Freeland introduces U.S. Treasury Secretary Janet Yellen at the Atlantic Council Global Citizen Awards, Wednesday, Sept. 20, 2023, in New York. Freeland has introduced legislation this morning that would remove GST charges from rental developments and update the country's competition law. THE CANADIAN PRESS/AP/Julia Nikhinson
OTTAWA – Finance Minister Chrystia Freeland introduced legislation this morning that would remove GST charges from new rental developments and update the country’s competition law.
Prime Minister Justin Trudeau promised the new legislation earlier this month to address the housing crisis and affordability crunch.
Experts have called on the federal government to remove GST charges off new purpose-built rentals to help spur construction of these kinds of homes.
The bill is also supposed to strengthen the Competition Bureau by giving it the power to compel information from companies to conduct studies, tighten up merger laws and go after collaborations that stifle competition.
The changes to the Competition Act follow a promise from the Liberals to review the law.
Freeland, along with several other cabinet ministers, are to hold a news conference this afternoon about the new legislation.
This report by The Canadian Press was first published Sept. 21, 2023.
