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Trudeau’s Power-Sharing Deal Targets Housing Costs, Bank Profits

  • Government promises to tackle ‘financialization’ of housing
  • Surtax on big lenders also coming under Liberal-NDP agreement
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Trudeau Reaches Deal With NPD to Support His Liberals

Prime Minister Justin Trudeau’s power-sharing deal with an opposition party promises to tackle the soaring cost of housing in Canada and may target real estate investment trusts that own homes.

The agreement between Trudeau’s governing Liberals and the New Democratic Party says the government will act on the “financialization of the housing market by the end of 2023.” No details were given, but in last year’s election the Liberal platform pledged to review the tax treatment of large corporate owners of residential properties such as real estate investment trusts to “curb excessive profits.”