2023 Ontario Spring Budget Builds on Province’s Commitment to Create Thriving Communities

Today’s 2023 Ontario Spring Budget continues to build on the Provincial Government’s mission to create economically thriving and vibrant communities across the province and invest in infrastructure for future growth.

Specifically, the budget prioritizes mental health funding, economic success, and creating more Ontario homeowners through the More Homes Built Faster Act, including HST Relief for new housing projects. The budget also increases spending for supportive housing and homelessness programs.

Ontario REALTORS^® are pleased to see that the Government understands that if we want to continue to attract – and keep – young people and their families in this province, we must ensure they have access to affordable places to live in and thrive. Ontario REALTORS^® are calling on the Government of Ontario to continue championing pro-housing policies, by building on the four pro-housing pieces of legislation that are kickstarting developments and adding sorely needed new supply across the province.

Ontario must continue to be bold to get more housing supply built. The City of Toronto recently took steps to prioritize ending exclusionary zoning to build housing, leveraging public lands to increase housing supply, and supporting the development of more rentals. These are the types of decisions that the Ontario Government must encourage in other cities and communities across the province if we want to solve the housing affordability crisis.

Furthermore, the province should consider expediting the use of underutilized provincial properties to convert into homes that average Ontarian can afford, as well as introducing stronger rules to intensify around transit lines and hubs to save people time and money.

Ontario’s REALTORS^® commend Finance Minister Peter Bethlenfalvy and the Ontario Government for this strong fiscal plan that understands the crucial role housing plays in the lives of hardworking Ontarians and in the economy.”

- Tim Hudak, CEO of the Ontario Real Estate Association