It’s a pleasure to be here and be able to speak on Bill 97, Helping Homebuyers, Protecting Tenants Act, 2023. I’d like to recognize and thank for their hard work on this bill the Minister of Municipal Affairs and Housing, the Associate Minister of Housing and the parliamentary assistant to municipal affairs and housing as well. Thank you for all your work in putting through this legislation.

I would like to address our government’s proposed legislation to support our much-needed housing supply action plan. Our proposals are crucial to our government’s work to get housing built that Ontarians desperately need. That’s why I’m pleased to be part of a government that is acting so strongly to support the building of more homes across all areas of Ontario and deliver on our commitment to see 1.5 million new homes by 2031.

Our housing supply action plans have made significant progress in addressing our province’s housing crisis, but more needs to be done. Together, we will continue to work diligently to ensure a brighter and more secure housing future for all Ontarians.

Our most recent housing supply action plan is the latest in a series of steps our government has taken to increase housing supply and help more Ontarians find a home they can actually afford. Our policies from More Homes Built Faster: Ontario’s Housing Supply Action Plan provide the growth work for growth, by reducing the bureaucratic costs and red tape that are delaying construction and pushing home prices even higher, by promoting and building up near transit and reforming zoning to create more gentle density, and protecting homebuyers and utilizing provincial lands to build more attainable homes.

Over the past four years, our government has introduced dozens of new policies under our three housing supply action plans. More Homes, More Choice, in 2019, More Homes for Everyone and More Homes Built Faster, both in 2022. These have helped substantially increase housing supply starts in recent years. Our past legislation has seen major support from stakeholders and is moving towards providing Ontario with more affordable housing.

Bryan Keshen, CEO of Reena agrees in his quote, if I could: “Reena is looking forward to working with the minister on the implementation of this transformative legislation, ensuring that deeply affordable housing will become a reality. By creating waivers of development charges, fees, charges and levies on non-profit affordable housing projects, Ontario is setting the stage for more affordable housing to be built for all Ontarians.”

Yet for too many Ontarians, finding the right home is too challenging. It’s difficult for young people eager to raise a family in a community of their choosing; for newcomers ready to put their roots down and start a new life; for seniors looking to downsize but wanting to stay near their family and loved ones. We are facing a critical issue in our province that requires immediate attention—the growing need for housing.

Ontario is projected to grow by almost 5.6 million people by 2046. The GTA alone is expected to be home to 2.9 million of those people. The greater Golden Horseshoe generates more than 25% of Canada’s gross domestic product and serves as the economic engine for not only Ontario but all of Canada. This growth in population will result in increased demand for major infrastructure investments, the renewal of aging infrastructure and the need to address deficits associated with growth. More growth and more people will also affect traffic congestion, resulting in delays in the movement of people and goods that could cost billions of dollars in lost GDP every year.

Also, the impact of globalization is transforming the regional economy at a rapid pace, making long-term planning for employment more uncertain. This is why we need Bill 97, Helping Homebuyers, Protecting Tenants Act, 2023. This bill will help tackle these pressing issues. It will also ensure that we can get homes built; homes that we desperately need now and into the future.

It’s critical that builders and developers have a clear and streamlined set of rules to follow in our province. In response, our government has proposed this new legislation as part of a comprehensive housing supply action plan.

First, we are proposing a new land use planning policy document which will streamline Ontario’s land use planning rules and encourage the development of more housing. This will make it easier for builders and developers to navigate regulations and get the necessary approvals to build homes for Ontarians.

Second, we are investing $6.5 million to appoint additional adjudicators. This will improve service standards and reduce decision time frames at the Landlord and Tenant Board. This will support both renters and landlords in navigating the rental market.

Third, we are implementing measures to protect renters and homebuyers, such as expanding the deposit insurance for first-home savings accounts and exploring a cooling-off period for newly built freehold homes. This will ensure that Ontarians have access to affordable housing options and the necessary financial protections.

Fourth, we are working on reducing the cost of building housing. We are freezing 74 provincial fees at current levels. This will help lower overall construction costs and accelerate housing development.

Our government is committed to addressing the housing supply crisis in Ontario by streamlining regulations, supporting infrastructure investments and providing financial protections for both renters and homebuyers. By working together, we can create a brighter future for our province and ensure that all Ontarians have access to the homes they need.

We are currently seeking input on a proposed new land use policy document that would streamline Ontario’s land use planning rules and encourage more housing. We are also proposing several changes to further protect renters while supporting landlords.

There are challenges and factors beyond our control, notably interest rates. Recently, they were increased by another 25 basis points to 4.5%, the highest level since 2007. Our government, however, remains focused on our long-term plan to create the right conditions so that when the economy does pick up, our housing market will also start to pick up. We are working with the private sector to remove barriers on the construction of new homes, streamlining approvals and reducing government costs and delays. Through our Helping Homebuyers, Protecting Tenants plan, we are making it more affordable and incenting the building of homes. We are also eliminating development-related charges for affordable housing units, not-for-profit housing, affordable inclusionary zoning units and select attainable units.

Simone Swail, manager of the Co-operative Housing Federation of Canada, also had some commentary on this bill. “The commitment to waive development charges for all affordable housing developments will have a tangible and positive impact on the ability to develop new affordable co-op homes in Ontario. We also look forward to engaging with the province in order to reduce the property tax burden on affordable housing providers, including co-ops.”

We recognize the importance of addressing the housing crisis and are committed to creating and maintaining a robust housing supply here in Ontario. We will continue to collaborate with municipalities and the private sector to ensure that our province can meet the housing needs of our growing population.

In summary, Speaker, if passed, Bill 97, Helping Homebuyers, Protecting Tenants Act, 2023, would support renters, strengthen homebuyer protections, reduce the costs of building a new home, streamline the rules around land use planning and encourage the development of more housing. So I proudly support Bill 97, Helping Homebuyers, Protecting Tenants Act, 2023. This legislation will help the residents of Ontario and my community in Oakville.

With that, Speaker, I move that the question be now put.