Carney & Ford Cut Home Building Costs by 50%

0:00It's March 30th. Welcome to Toronto News Today, powered by AI. I'm Cori with the story. Prime Minister Mark Carney and Ontario Premier Doug Ford are set to unveil a deal slashing municipal development charges on new homes by up to 50 percent province-wide all to kickstart more building. This comes right after last week's federal provincial pack to drop the 13 percent HST on the first $1 million of a new homes price. These charges jack up building costs by tens of thousands per house, blocking the push for cheaper homes, especially for first-time buyers, wow. Cities rely on them for roads, water lines, sewers, and services like trash pickup and policing. Cuts like this can mean higher property taxes for everyone else, with Ontario's municipalities warning of average 20 percent hikes to cover the gap. Federal cash flows through the build community strong fund, pumping $51 billion over 10 years into local infrastructure, including.

1:02Matches for provinces cutting these fees, though Ontario's lagging home starts have already forced lower targets on their 1.5 million home. Goal over the decade, so this might finally get things moving.