Prime Minister Mark Carney is tossing a lifeline to first-time homebuyers, vowing to axe the GST on homes sold for $1 million or less. Unveiled Thursday in Edmonton—just days before an expected election call—the move echoes a pledge from Conservative Leader Pierre Poilievre last fall and fulfills a cornerstone of Carney’s leadership campaign.
The PM says the tax break could shave up to $50,000 off a home’s price tag, while also juicing new construction to ease Canada’s housing crunch. With prices skyrocketing and builds lagging behind a booming population, housing has become a hot-button issue—especially for younger voters feeling locked out of the market. Carney’s pre-election pitch aims to hit that sweet spot, blending affordability with a boost to supply.