CMHC yesterday said it does not know how many new apartments will be built under a $383 million-a year GST holiday. Cabinet’s own estimates range from “thousands” to “millions.”

“Whatever program that lowers costs I think will be helpful but I don’t have a specific figure to give you, to say this will result in the creation of ‘x’ number of units,” Bob Dugan, chief economist for the Canada Mortgage and Housing Corporation, told the Senate national finance committee. “I think this is something that will help.”

“You’re the specialists,” said Senator Clément Gignac (Que.). “What is the impact you see on the supply of rental housing?”

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