Just for the record, housing sales are down 43% or 49% in the GTA. I would suggest that, arguably, the biggest supply gap for housing in this country happens to be in the GTA. If that is the case and housing starts are dropping precipitously, we need to be building, as the CMHC tells us, close to 500,000 units a year. We're building 259,000. We're building really none in Toronto, none in the GTA and very few in the Lower Mainland.
In fact, builders of homes are laying people off. It's already happening. Not only will the government not be collecting huge GST cheques off new homes, but you're going to be losing jobs in this industry.
You indicated on one of these podcasts that big, sweeping changes are a bit risky—like cutting the GST on all new homes under $1.3 million—and that you would try these little things to see what would happen. How many jobs should be lost before we do the big things?