This rebate is intended to remove the GST from purpose-built rental housing. It's a specific type of housing. I know MP Lawrence was talking about.... It's not singles and it's not owner-built. This is not what the measure was designed to do. It was designed for and aimed at purpose-built rental housing to ensure that this type of housing gets on the market. It was designed in such a way that it would lower the price for builders producing this type of purpose-built rental housing, because we heard that a lot of these projects just don't “pencil out”. That is the expression they use. In a higher interest rate environment, especially, in order to ensure they can pencil out a lot of these projects....
The rebate will help them take on projects that might not have moved forward and allow them to move forward. It will help supply in the sense that you've lowered the cost for builders. It will allow projects to be profitable. It will allow a lot of projects to go forward. You would assume that if there's more supply in the market, this would, in turn, reduce prices.