Thank you, colleagues. I appreciate that.
Thank you, Chair.
Minister, I share Ms. Kwan's concern about corporate landlords who are buying multi-unit residential buildings in my community. They are renovating, evicting folks, and raising rents. The federal government, as you know, is incentivizing this behaviour by providing tax exemptions to groups like real estate investment trusts. This is not about new supply; this is about keeping existing units affordable.
We know that removing this exemption would create $300 million to build more affordable housing. It won't solve the crisis, but it's a litmus test for whether this government is serious about addressing financialization. Nothing was done in the fall economic statement on it.
I was encouraged by your comments earlier. Can you be more specific about the action we can see in terms of addressing financialization?