What’s Happening?

The Building Industry and Land Development Association (BILD) is warning that Ontario could lose tens of thousands of construction jobs if home sales don’t improve.

According to research prepared for BILD by Altus Group, approximately 40,000 direct homebuilding jobs are at risk, as well as 30,000 construction supply chain jobs.

“What we have now is a cost-to-build crisis as the market has reset, where the price points are too high for individuals to be able to afford, despite the other adjustments,” Dave Wilkes, president and CEO of the advocacy group, told Global News.

BILD is calling for the federal and provincial governments to waive the harmonized sales tax (HST) on all new developments — which is expected to cost Ottawa around $2 billion and $900 million for Ontario.

Ontario Open to Deeper Tax Cuts

A spokesperson for the Ministry of Municipal Affairs and Housing indicated that the province isn’t opposed to BILD’s recommendation.

“We have been clear — we need partnership from the federal government to continue reducing HST and GST on homes,” the official outlined in a statement to Global News.

SEE ALSO
• 76% of Canadian Companies Bracing for Recession Amid Trade Crisis: Survey
• Canada Unveils Suite of Business Relief Measures During US Trade War
• Trump Tariffs Canada: Layoffs, Severance, and Employee Rights

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