News Release – Drywall Tariff Adds Costs to All New Homes
The Federal Government has imposed a tariff on drywall material that has serious consequences for housing affordability. Last Tuesday the Canada Border Services Agency imposed the preliminary tariff of up to 276 per cent on U.S. gypsum board imported into Canada for use in British Columbia, Alberta, Saskatchewan, Manitoba and the Yukon and Northwest Territories.
“This regressive tax will add around $1,000 to the cost of each home. This is yet another cost that is driving up prices in an already unaffordable housing market.”
– Anne McMullin, Urban Development Institute President and CEO
This summer Prime Minister Trudeau met with industry experts, including UDI, to discuss solutions to Vancouver’s housing affordability problem. It is very disappointing that the Government’s first big action taken since that meeting is to impose a tax that will makes homes more expensive.
Some development projects will no longer be viable due to this added cost. This will impact the entire housing spectrum, including social housing. The rebuild of Fort McMurray will also be stalled by the tariff.
The government plans to make a decision on long term implementation of tariff following a consultation period ending on December 31, 2016. UDI urges builders to voice their concerns about the implications of this tax.
Note: UDI President and CEO Anne McMullin is available for media interviews. Contact Communications Manager Gavin Duffus at firstname.lastname@example.org or cal 604-661-3033