Mr. Speaker, for the last two years thousands of Canadians have been able to purchase or upgrade their homes by utilizing the home buyers plan that allows individuals to use up to $20,000 of RRSP money for down payments. Studies have shown that over 150,000 Canadians took part in the first year alone, representing 26 per cent of all housing transactions.
The government promised jobs during the election campaign and this program has demonstrated its job creating ability. Both the real estate industry and thousands of potential home buyers across the country are anxiously awaiting an announcement from the minister that the program will be extended.