Pawanjit Gosal

How does your party intend to support first-time home buyers and new Canadians who are struggling to find affordable housing that meets their needs?

Our Party has a clear strategy to deal with the first priority of all prospective homeowners - having sufficient income to be able to purchase and maintain ownership. That is why we have announced a Universal Tax Credit that will put $850 more into the pockets of the average family; a Transit Tax Credit that will save the average commuter going from Bramalea Station to Union Station $508 a year; tax credits for youth attending sports and arts program; take the GST off home heating fuels; and end the Liberal Carbon Tax, which will save the average family over $700, per year. With greater net income, more families will be able to invest in home ownership. We're adding further support by allowing an extension of the amortization period from 25 years to 30 years, which will lower montly mortgage payment.

The mortgage stress test is impacting individuals and families in your riding.  What adjustment do you feel should be implemented to address the negative consequences?  

Our Party has committed to eliminating the stress test for all mortgage renewals. We believe that existing home owners deserve better treatment, after proving their ability to make their mortgage payments, when it comes time to renew.

Housing supply continues to be a significant issue in many markets across the country.  What should the federal government do to help with housing supply issue?  

The federal government needs to work with provincial counterparts to ensure that housing supply imbalances are addressed. Provincial and muncipal governments are far more likely to own surplus land, in urban areas, than the federal government. So, rather than being the source of land, the federal government needs to ensure that the policies adopted by the Bank of Canada and the legislation that covers banks and mortgages in this country always reflects the housing needs of rapidly growing urban municipalities, such as Brampton.

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