Burnaby voters need more housing supply. Budget 2019 failed to address that issue.
BURNABY, BC - Statement from Conservative Party of Canada Burnaby South candidate Jay Shin in response to the 2019 Liberal budget and statements by NDP MP Jagmeet Singh:
Burnaby voters need more housing supply. Today’s budget failed to address that issue – instead making CMHC a co-owner.
Housing affordability remains a problem. The Trudeau Liberals did not address the shortage of housing supply only the ability to get credit. In typical Liberal fashion, they threw money at a problem without offering the solution required.
“Canadians are tired of endless deficits,” said Jay Shin. “Canadians need tax relief not more government involvement in their lives.”
Budget 2019 was supposed to balance the budget. That was a 2015 Liberal campaign promise. In another campaign year, nothing the Liberals say can be believed.
The budget will make CMHC an investor in people’s homes. CMHC will be a “silent partner” owning 5 or 10 per cent of a residence under the Liberal’s budget plan. This is very expensive financing and does not address the home ownership affordability problem.
More details about the CMHC’s First-Time Home Buyer Inventive and funds to assist other providers of shared equity mortgages will be released later this year. Canadians cannot continue to wait on the Liberals.
Meanwhile, the NDP’s plan has no way of funding the supply shortage. Canadians cannot trust the NDP either.
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Jay Shin - Conservative Candidate for Burnaby South