Andrew Scheer will cancel Liberal home buyer incentive; reverse Jim Flaherty’s housing stability policies
September 23, 2019
Toronto, ON – Eglington—Lawrence Liberal candidate Marco Mendicino today issued the following statement about Andrew Scheer’s homebuying announcement:
“Canadians do not need further risks and instability in the housing market – but that’s exactly what Andrew Scheer is proposing with his announcement today.
“Scheer said this morning he would cancel the Liberal First-Time Home Buyer Incentive. Conservatives would take money directly out of Canadians’ pockets.
“A re-elected Liberal government will make it easier for Canadians to buy their first home. We’re going to give Canadians up to ten percent off the purchase of their home. We’re also going to immediately expand the First-Time Home Buyer Incentive to provide more help to the greater Toronto, Vancouver, and Victoria regions by allowing homes valued at up to $789K to qualify for this help. Scheer will take that money away.
“Further, Andrew Scheer will add more debt and instability to the housing market:
- First, by increasing the amortization period on mortgages by five years from 25 years to 30 years, Scheer is removing protections Jim Flaherty introduced following the subprime mortgage crisis.
- Second, when Jim Flaherty reduced the maximum amortization period to 25 years from 30 years, he did so because the 30-year period was pushing house prices up.
- Third, on Scheer’s pledge to combat money laundering, it was the Conservatives who slashed RCMP funds that went to fight money laundering and they shut down the RCMP’s integrated Proceeds of Crime Units. The Liberals have done the opposite by increasing funding and efforts to fight money laundering.
“And Scheer continues to dishonestly claim Liberals will introduce a housing tax. That’s false and Scheer knows it. His misleading claims have been widely debunked.
“Andrew Scheer’s only plan is a reckless recipe to increase the debt of Canadian households – and to hurt families by taking money out of their pockets and cancelling the Liberal First-Time Home Buyer Incentive.”