Week One of the federal election campaign is behind us and let’s see how things are playing out.
As of March 30th, Ipsos have the Liberals leading over Conservatives with a lead of 6% of decided and leaning voters. While Abacus Data has the two parties tied at 39%, the Globe and Mail, in partnership with Nanos Research had a much larger spread between the parties with an 8% differential. And 338 Canada also has the Liberals ahead, but with a 4% lead. So it is still anybody’s best guess!
While policy announcements and platforms vary across the parties, leaders have spent the past week making a number of promises and we have highlighted a number of them here for you:
CONSERVATIVE PARTY OF CANADA – “Canada First For A Change”
Party leader Pierre Poilievre announced a commitment to remove the GST on all new homes under $1.3M, an increase over an earlier announcement. This action is one that CHBA and its members have been asking for and is counted as a win if it comes to fruition.
The Conservatives promise a 2.25% point income tax cut that would save the average dual-income family $1,800 per year and they would also drop the lowest income tax bracket from 15% to12.75%, to be funded by trimming the federal government bureaucracy.
A Conservative government would keep the retirement age at 65, and would allow working seniors to earn up to $34,000 tax free and allow seniors to keep their savings in an RRSP until age 73, up from 71.
Party leader Poilievre announced a plan to boost training and employment for workers in the skilled trades, in a “more boots, less suits” approach to expansion of training halls and direct grants and faster access to employment insurance for apprentices in licensed trades. March 21
LIBERAL PARTY OF CANADA – “Because we are strong – Canada strong”
Prime Minister Mark Carney today unveiled a comprehensive signature housing plan that will double the pace of homebuilding in Canada, to an annual 500,000 new homes built through a new Build Canada Homes entity. This plan would provide for $10B in low-cost financing and grants to be funnelled into affordable home building streams. A highlight for our homebuilding industry is a promise to cut municipal development charges in half for a period of five years by helping cities make up the cost of that lost revenue. And last but not certainly not least, the party pledges to bring back the Multiple Unit Rental Building (MURB) tax incentive.
The Liberals have also committed to the elimination of the GST for first-time homebuyers on homes at or under $1M. Again, a win if it comes to fruition.
A Liberal government would inject $5B into a new Trade Diversification Corridor Fund, to build infrastructure that will help diversify our trade partners, create good jobs and drive economic growth. This fund will accelerate nation-building projects at ports, railrooads, inland terminals, airports and highways.
The Prime Minister launched the 2025 campaign with middle-class tax cut that will help Canadians keep more of what they earn and build a stronger Canada in the face of President Trump’s tariffs. Carney promises a one-point cut to the middle class tax rate, benefiting a dual income family by up to $825 a year.
NEW DEMOCRATIC PARTY (NDP) – “In It For You”
Leader Jagmeet Singh revealed a “Workers for Canada” plan to build a stronger, fairer, more resilient Canadian economy that puts working people first, focused on wages and benefits, stepping up Canada’s investments in homes for families and first-time buyers, and protecting people and jobs.
An NDP government would use federal Crown land to build more than 100,000 rent-controlled homes over the next ten years. It further promises $1B over five years to acquire more public land for rent-controlled home construction. This housing pledge also includes a promise to train 100,000 more people in skilled trades.
The NDP would cut taxes by increasing the basic personal amount of income exempted from taxes to $19,500 and pledges to raise the guaranteed income supplement for senior citizens.
Party Leader Singh says the NDP will ban corporations from buying affordable rental buildings and stop corporate landlords who “gouge their tenants” from getting things like low-interest federal loans, preferential tax treatment and mortgage loan insurance. His government would further boost the rental protection fund to help non-profits buy affordable apartments.
GREEN PARTY OF CANADA – “Change, Vote for It”
Party Leader Elizabeth May would declare a national housing affordability and homelessness emergency and establish a national moratorium on evictions and residential arrears assistance.
The Greens have promised to launch the biggest public housing construction program since the 1970s, creating good local jobs, using Canadian materials, and will build homes that people can actually afford.
A Green government would strengthen housing market regulations, set clear goals for what “affordable” really means and ensure that an individual or family will be able to pay their rent or mortgage with 30% of their regular income.
You can follow the weekly promises of the Conservatives, Liberals and Greens here with the CTV News Promise Tracker.
CHBA and a Federal Perspective
Our colleagues at CHBA is urging coordination amongst our national CHBA family and notes that it is critical, both during a federal election campaign and for ongoing government relations thereafter. To help keep everyone on the same page throughout the federal election campaign, CHBA will keep us all up to date on key campaign issues impacting our sector. We have a long list of wins over the past two years and the key during this federal election period is to keep the momentum going, continue to deliver recommendations to federal political parties, and to ensure the home construction sector is at the top of the candidates’ minds. As such, CHBA has created a comprehensive resource page for members.
And they have created a Federal Party Platform Tracker based on political party responses to CHBA’s recommendations. As campaign pledges are made and details (if any) are shared, the tracker will be updated. Note, it is pretty empty at this time but we will see what this week brings.
One week down, four to go…
And as of today, 124 federal candidates across Metro Vancouver are out knocking on doors, robo-calling you and holding local townhall meetings.
HAVAN continues to work with CHBA BC and CHBA to advocate for all levels of government to work together to address the challenges of the housing industry including zoning restrictions, density limits, and NIMBYism.
Looking to stay up-to-date on Metro Vancouver’s residential housing industry? Sign up for Wendy’s weekly Monday Morning Briefing and other HAVAN emails here.
QUICK BITES …
- AGM this week! HAVAN’s online HAVAN Annual General Meeting (AGM) 2025 will be conducted from 12:00 – 1:00 pm on Wednesday, April 2, 2025. HAVAN members in good standing are invited to attend this meeting. Make sure to register to attend.
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The Government of Canada announced that it is seeking Canadian views on further retaliatory actions and specific feedback on a list of goods to which future retaliatory tariffs may apply. That list can be found in the Notice of Intent to Impose Countermeasures in Response to United States Tariffs on Canadian Goods.
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Fraser Valley Real Estate Board’s Spring 2025 edition of Locus magazine features an interview with Langley Township Mayor Woodward focused on his plans for gearing up for growth in his municipality.
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The 2025 Altus Group Canadian Cost Guide for Construction is now available!
