Mr. Speaker, we remain firmly committed to tackling the crucial issue of housing affordability in Canada. Our government is focused on ensuring that Canada's residential housing stock is not used unproductively by non-resident, non-Canadian investors. That is why we are proposing an annual 1% tax on the value of non-resident, non-Canadian-owned residential real estate that is considered to be vacant or underused. Budget 2021 is also the fifth consecutive budget that our government has presented that provides more money for affordable housing.
In the House of Commons on May 31st, 2021. See this statement in context.