Mr. Speaker, access to home ownership is very important.
For 10 years, the Conservatives under Stephen Harper, and now under the Leader of the Opposition, ignored this issue. Little by little, home ownership has slipped out of reach for many Canadians, especially young people.
To address this issue, the Minister of Finance introduced the interesting bill we are debating today. It creates an incentive for the purchase of a first home that will really help new buyers put together a larger down payment. It updates the homebuyers plan and increases the amount that can be withdrawn from the plan from $25,000 to $35,000. That is good for first-time homebuyers as well as Canada's construction sector.