Mr. Speaker, today the leader of the common-sense Conservatives announced that we will be axing the federal sales tax on new homes. It is going to have a huge impact on ground zero of the housing crisis in metro Vancouver and right across the country.
Homeowners will save $50,000 on a million-dollar home purchase, reducing their mortgage payments month after month, year after year. This tax cut will also spark the construction of 30,000 extra homes every year. This means more homes for young families that are trying to get into the real estate market for the very first time.
Where are we after nine years of the NDP-Liberals? Double the rent, double the mortgage payments, double the down payment and 80% of Canadians feel that home ownership is only for the very wealthy. However, rest assured, the Conservatives will put an end to these failed Liberal housing programs and we will actually build the homes, as we have done in the past and as we are doing with today's announcement.
Let us axe the tax and build the homes.