Ont. Budget to Focus on Affordable Housing

Ontario Finance Minister Charles Sousa confirmed Monday he plans to include housing affordability measures in his upcoming budget.

Premier Kathleen Wynne has said her government is working on a "comprehensive set of plans," to deal with rising home prices in the Greater Toronto and Hamilton Area, as well as rising rental rates.

Just prior to the release of the federal budget, Sousa had asked his federal counterpart, Bill Morneau, for changes to the taxation of capital gains on the sale of homes that are not classified as a primary residence, as a way to address speculative investors flipping homes, believed to be one of the culprits behind the soaring house prices.

While such provisions did not appear in this federal budget, Morneau did not rule out capital gains changes in the future.

No date has yet been set for the next Ontario provincial budget.