A Housing Affordability Task Force has been formed in Ontario

Key takeaways:

• In Ontario, a nine-member Housing Affordability Task Force has been formed to offer recommendations to the government on additional initiatives to address market housing supply.

A new Housing Affordability Task Force has been formed in Ontario, with nine members who will make recommendations to the government on additional steps to address market housing supply and affordability.

Premier Doug Ford stated, “Young families, elderly, and all hardworking Ontarians are clamoring for housing that meets their requirements and budget.” 

“At a time when our government is hard at work developing an economy that works for everyone, this Task Force will offer us with tangible, expert advice that will assist our government in making house ownership more accessible to more Ontarians.”

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The Housing Affordability Task Force’s mission is to look into ways to solve housing affordability by:

• Expanding the supply of rental and ownership housing at market rates.
• Increasing the supply of housing in entire towns.
• Cutting through the red tape and shortening timescales.
• In planning procedures, for example, encouraging innovation and digital modernization.
• Supporting the rehabilitation of the economy and the development of new jobs.
• Trying to strike a balance between housing requirements and environmental protection.

The Task Force, chaired by Jake Lawrence, CEO and Group Head, Global Banking and Markets at Scotiabank, includes professionals in non-profit housing, Indigenous housing, real estate, home builders, financial markets, and economics. In early 2022, the chair’s report describing the Task Force’s recommendations will be released.

“Our administration’s measures under the Housing Supply Action Plan are working to address affordability,” said Steve Clark, Minister of Municipal Affairs and Housing. “However, more has to be done at all levels of government.” 

“The Housing Affordability Task Force will assist our government in building on our progress by identifying more opportunities to enhance the supply of all types of housing, particularly in the missing middle,” said the president. 

I am confident in the knowledge and experiences of this Task Force under Mr. Lawrence’s strong leadership, and I thank them for their commitment to helping us handle the housing issue.”

Lawrence remarked, “I’m thrilled to have been selected Chair of Ontario’s new Housing Affordability Task Force.” “It gives me great satisfaction to collaborate with such a broad group of specialists who are dedicated to improving housing affordability for current and future Ontarians.” 

We’re excited to get started on identifying and recommending practical solutions and policies to help the government address the province’s housing affordability challenge.”

“Having a secure, affordable place to call home is a critical component of success, which is why our administration has made solving housing supply and affordability a top priority,” said Peter Bethlenfalvy, Minister of Finance. 

“To ensure that the dream of homeownership is within reach for families in every region of Ontario, we are forming a Task Force to study innovative policy options.”

The Housing Affordability Task Force was initially mentioned in the Ontario Economic Outlook and Fiscal Review: Build Ontario, released in 2021.

To solve Ontario’s housing crisis, everyone has a role to play. Ontario will continue to work with municipal partners to assist them in utilizing the tools offered by the province to unlock housing and make house ownership more accessible for hardworking Ontarians. 

Working with municipalities through the next Provincial-Municipal Housing Summit and a special session with rural municipalities in the lead-up to the ROMA conference in January 2022 are two examples.

Source: Ontario

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