Ontario Could Lose Thousands of Jobs Amid Home Sales Slump, BILD Warns
What’s Happening?
The Building Industry and Land Development Association (BILD) is warning that Ontario could lose tens of thousands of construction jobs if home sales don’t improve.
According to research prepared for BILD by Altus Group, approximately 40,000 direct homebuilding jobs are at risk, as well as 30,000 construction supply chain jobs.
“What we have now is a cost-to-build crisis as the market has reset, where the price points are too high for individuals to be able to afford, despite the other adjustments,” Dave Wilkes, president and CEO of the advocacy group, told Global News.
BILD is calling for the federal and provincial governments to waive the harmonized sales tax (HST) on all new developments — which is expected to cost Ottawa around $2 billion and $900 million for Ontario.
Ontario Open to Deeper Tax Cuts
A spokesperson for the Ministry of Municipal Affairs and Housing indicated that the province isn’t opposed to BILD’s recommendation.
“We have been clear — we need partnership from the federal government to continue reducing HST and GST on homes,” the official outlined in a statement to Global News.
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For a broader understanding of your severance rights, visit Severance Pay for Construction Sector Staff. You can also use our free Pocket Employment Lawyer to get real-time insights.
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About the Author
Lior Samfiru
Lior Samfiru is a Founding Partner at Samfiru Tumarkin LLP and the Practice Leader of the firm’s Labour & Employment Law Group. Known for his advocacy and success representing both employees and employers, Lior exclusively serves clients in Ontario, where his extensive experience has made him one of Canada’s most sought-after employment lawyers.
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