1st time home buyers rebate considered for P.E.I.

Given a fast-growing economy on P.E.I., the time is "more than opportune" to look at ways to help first-time home buyers, says Finance Minister Heath MacDonald.

MacDonald was responding to a question from Liberal MLA Allen Roach.

"We have talked in this legislature about the importance of retaining our youth and keeping Islanders as Islanders," said Roach.

"People truly are our greatest asset. So if we are able to find ways to keep them here, I'm all for it."

Roach noted a recent report suggested the lack of affordable housing in Charlottetown is hard on young people.

MacDonald said with given growth in the economy and the state of government finances, a rebate program is worth considering.

"If there's a possibility there that we could create something relevant to a rebate program for first time homeowners or builders," he said.

"We have to ensure the infrastructure is there for these young people. It would be more than opportune for us to take a look at it."

MacDonald also noted there are existing programs in place for first-time home buyers, such as the waiving of the real property transfer tax.

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