Ottawa – Deputy Prime Minister Chrystia Freeland spoke on tax breaks for, cracking down on short-term rentals. She said:
“I am going to start by talking about the Canadian economy. I will then provide an update on the Canada-US relationship, on the tax break and on new action we are taking on short-term rentals. Then Minister Duclos will discuss why the new action on short-term rentals is positive for Quebec, and provide an update on the tax break in Quebec.
“Inflation was two per cent in October. This means that inflation has been within the Bank of Canada’s target range for the past ten months, or the entire year. Notably, interest rates have already declined four times, and Canada was the first G7 country to cut interest rates. The Canada-US Cabinet committee met for the fifth time. We focused, as we have from the outset, on the border and on Canada-US trade. We also had a good discussion about the Arctic.
“Our government believes it is essential for Canada to take a Team Canada approach. It is with this in mind that last week the Prime Minister together with me and Minister LeBlanc met with the Premiers of provinces and territories to discuss what we are doing as a country and how we’re working together. It’s also with this in mind that earlier today the Prime Minister, again together with me and Minister LeBlanc, met with the Leaders of the Opposition parties. We are continuing to meet with business and labour leaders.
“We know that this is a challenging time for Canada. We also recognize there are real opportunities for us. Canada now needs to be strong, smart, and united and that is the way that together we achieve a good outcome for our country. One of the things we spoke about with Premiers and Opposition Leaders is it is of paramount importance for all leaders across Canada to be taking a Team Canada approach.
“It is important for us to be strong, smart, and united and it’s important for us to take care not to negotiate against ourselves. I’m confident we can do that. I’m happy to highlight the fact that Bill C-78, the Tax Break for all Canadians Act, was adopted by the House of Commons last Thursday. It’s now before the Senate, the last step before Royal Assent. This is a tax break on essentials like groceries, prepared foods, kids’ clothing. It’s going to help middle class Canadians buy the things they need and save a little for the things they want. It will run from December 14 to February 15.
“Finally, we are today launching the new $50 million Short-Term Rental Enforcement Fund. This is giving cities the tools they need to crack down on short-term rentals, things like hiring enforcement staff, managing complaints, conducting inspections. When we first started doing this work on short-term rentals and hearing from Canadians how they were making less housing available in cities across the country, one of the things we heard from municipalities was they supported the idea but they needed the tools to act. This Fund is about listening to them and being responsive to the needs of Canadian cities and giving them the tools that they need. Thank you.”