Thank you to the member from Brampton West for that question—and all the members from Brampton that are surrounding me here.

We know the people of Ontario are facing the rising cost of living and shortage of homes, and our government has a strong mandate to help the people of Ontario find a home that is right for them. Ontario needs more housing, and we need it now.

We are building a durable foundation for action that will increase housing supply and attainability over the long term. That is why we announced an increase to the Non-Resident Speculation Tax to 25% to prioritize Ontario families and homebuyers. Mr. Speaker, this increase means Ontario has the most comprehensive NRST in the land.

And finally, Mr. Speaker, let me be clear: As part of this commitment to tackle Ontario’s housing crisis, we are prioritizing Ontario families and homebuyers, not speculators.

The foreign buyer ban the federal government is proposing would be temporary, and some proposed exceptions appear to still permit residential property purchases in Ontario that may be subject to the NRST.

But, Mr. Speaker, while we support the federal government’s actions following Ontario’s lead in addressing housing supply, this government knows the housing crisis is not temporary. It is a long-term challenge that requires long-term solutions. That is why we increased the NRST to 25% and eliminated loopholes by focusing relief eligibility to newcomers who commit to laying down roots in Ontario long-term so that Ontario has the most comprehensive Non-Resident Speculation Tax in the land.

Mr. Speaker, all levels of government need to work together to co-operate and address the housing crisis.