It is with great pleasure that I join Canadians across the county in marking New Homes Month. This is a wonderful opportunity to recognize the exceptional work behind new home construction across the country.

A robust housing sector is an important source of economic activity in Canada as it promotes demand for labour, building materials and other goods. Moreover, I believe that the industry exemplifies the very principles that are instrumental to the success of the Canadian economy - hard work, determination and a commitment to excellence.

To provide needed stimulus in these challenging economic times, our Government’s Economic Action Plan introduces measures to encourage home ownership. By improving the Home Buyers’ Plan, first-time home buyers can now access $25,000 of their RRSP savings to put towards a down payment. To help with closing costs, we are providing up to $750 in tax relief. Together with our two percent cut to the GST, we are putting more money in the pockets of Canadians and boosting consumer confidence.

Our Government is actively addressing some of the issues currently facing the home construction industry. In partnership with the Canadian Mortgage and Housing Corporation, we are working to streamline the approval processes and regulations impacting the housing industry. We continue to work closely with financial institutions to keep mortgage funds flowing to qualified home buyers and builders. Last fall, we introduced the Insurance Mortgage Purchase Program and have held auctions to help lenders increase liquidity. These auctions will inject a total of $125 billion into the market to ensure a stable supply of longer term funds for lending.

On behalf of my colleagues in the Government of Canada, please accept my best wishes for a successful New Homes Month and year ahead. I am confident that the housing sector will continue to provide quality products, employ skilled workers, and build world-class homes for Canadian families for generations to come.

Sincerely,

The Rt. Hon. Stephen Harper, P.C., M.P.
Prime Minister of Canada