Morning Update: Trudeau announces measures to spur new housing, curb cost of living

News Snapshot:

Good morning, Prime Minister Justin Trudeau unveiled measures yesterday aimed at driving new housing construction and curbing the rising cost of living. To address the housing crisis, Trudeau said the federal government will remove the GST from new rental construction, including apartment buildings, student housing and seniors’ residences. He called on provinces to follow suit so that all sales taxes would be removed from new rental construction. The Prime Minister also said the government will push grocery chains to come up with a plan to stabilize prices and “ideally start bringing them down.” The moves come at the end of...