Thanks, Mr. Chair.
I want to thank our witnesses here this afternoon as well.
I mentioned earlier that in Parry Sound—Muskoka, where I'm from, we have a large seasonal workforce. They're resort staff and that kind of thing and cooks who prepare amazing meals in the summer, but they worry about how they're going to feed their own families, so I definitely have questions for you.
I want to thank you again for being here. Our time is limited, though.
I also want to do something else. I want to give verbal notice of a motion, if I could, Mr. Chair, to my colleagues around the table. I'll read it now, if that's okay.
It reads:
Given that, in order to save Canadians up to $50,000, reduce mortgage payments by $2,200 every year on a typical home, and build 30,000 more homes every year;
The committee report to the House its recommendation to remove the federal GST on new homes sold for under 1 million dollars.
That's the motion. It's very simple. I don't think there's anything alarming in that.
We know the housing crisis is getting worse. Rents, mortgages and the price of the average home have all doubled in the last nine years. Back in October 2015, it only took about 39% of median, pre-tax household income to cover home ownership costs. Now it takes over 60%. Government charges—we've said this over and over—account for more than 30% of the cost of a home. Of course, the GST is the biggest share of that.
This committee has heard overwhelmingly from those in the industry, including some of the witnesses we heard from earlier, that housing costs are a huge part of the affordability crisis in this country. The Conservatives have proposed this bold solution to remove the GST on new homes under a million dollars. I think it's time we propose that to the House.
I just wanted to put that on verbal notice, if I might, Mr. Chair.
Is everyone good with that?