Latest news with #Smetanin
Calgary Herald
6 days ago
- Business
- Calgary Herald
Extend GST housing rebate to seniors who want to downsize, report recommends
OTTAWA — The federal government's GST rebate on new homes should be extended to seniors who want to downsize, a new report says, to help boost the supply and cut the price of family homes. Article content The report, released Tuesday by the Ottawa-based Missing Middle Initiative, says that Canada's housing crisis is being partly fuelled by market bottlenecks preventing seniors from downsizing. Article content Article content Article content The document says that Canada's housing supply problems include a lack of smaller homes with access to seniors' preferred facilities and services, which creates disincentives for empty nesters to downsize. That leaves many seniors with homes that are larger than they need, while further restricting the supply of family homes and raising prices. Article content Article content This under-appreciated piece of Canada's housing crisis is exacerbated by high transaction costs, such as the GST and land-transfer taxes, that create further disincentives for seniors to downsize, the report adds. Article content Eliminating these transaction costs would help spur more downsizing, the report says. 'Not only would this help increase the supply of seniors' friendly housing (but) would also free up larger, child-friendly homes for the next generation of families.' Article content Paul Smetanin, the president of the Canadian Centre for Economic Analysis, said he agrees with the report's conclusions and that Canada's current housing problems were completely predictable and the product of a series of government policy and municipal planning failures. Smetanin said his company estimates that there are 4.4 million empty rooms in Ontario alone, in part because of the empty nesters who can't downsize. Article content Article content Those empty rooms are the equivalent to what would normally take more than 20 years to build, he said. 'It really burns my chops.' Article content Article content Canada's housing crisis has been a high-profile and far-reaching problem in recent years. As the population has increased, particularly in urban areas, demand for both home purchases and rentals has soared, leaving many Canadians under-housed or even homeless. Article content The federal government's response in recent months has been to try to make homes more affordable while increasing supply, including greater reliance on pre-fabricated homes. Article content The Missing Middle Initiative report also found that homeownership rates are dropping for those under the age of 40 as they are being priced out of many markets. Many young families are also facing a 'second-time homebuyers' barrier in that they own a small home, often a one-bedroom residence, but they have been priced out of transitioning to something that meets their growing family's needs.
Vancouver Sun
6 days ago
- Business
- Vancouver Sun
Extend GST housing rebate to seniors who want to downsize, report recommends
OTTAWA — The federal government's GST rebate on new homes should be extended to seniors who want to downsize, a new report says, to help boost the supply and cut the price of family homes. The report, released Tuesday by the Ottawa-based Missing Middle Initiative, says that Canada's housing crisis is being partly fuelled by market bottlenecks preventing seniors from downsizing. The document says that Canada's housing supply problems include a lack of smaller homes with access to seniors' preferred facilities and services, which creates disincentives for empty nesters to downsize. That leaves many seniors with homes that are larger than they need, while further restricting the supply of family homes and raising prices. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. This under-appreciated piece of Canada's housing crisis is exacerbated by high transaction costs, such as the GST and land-transfer taxes, that create further disincentives for seniors to downsize, the report adds. Eliminating these transaction costs would help spur more downsizing, the report says. 'Not only would this help increase the supply of seniors' friendly housing (but) would also free up larger, child-friendly homes for the next generation of families.' Paul Smetanin, the president of the Canadian Centre for Economic Analysis, said he agrees with the report's conclusions and that Canada's current housing problems were completely predictable and the product of a series of government policy and municipal planning failures. Smetanin said his company estimates that there are 4.4 million empty rooms in Ontario alone, in part because of the empty nesters who can't downsize. Those empty rooms are the equivalent to what would normally take more than 20 years to build, he said. 'It really burns my chops.' Canada's housing crisis has been a high-profile and far-reaching problem in recent years. As the population has increased, particularly in urban areas, demand for both home purchases and rentals has soared, leaving many Canadians under-housed or even homeless. The federal government's response in recent months has been to try to make homes more affordable while increasing supply, including greater reliance on pre-fabricated homes. In March, the federal government announced that it would eliminate the GST for first-time homebuyers who purchased homes for $1 million or less, although it is not yet clear if that will bring down home prices . The Missing Middle Initiative report also found that homeownership rates are dropping for those under the age of 40 as they are being priced out of many markets. Many young families are also facing a 'second-time homebuyers' barrier in that they own a small home, often a one-bedroom residence, but they have been priced out of transitioning to something that meets their growing family's needs. The Missing Middle Initiative, launched late last year and housed out of the University of Ottawa, was designed to help support Canada's urban middle class and analyze the barriers preventing young Canadians and new families from entering the middle class. National Post Get more deep-dive National Post political coverage and analysis in your inbox with the Political Hack newsletter, where Ottawa bureau chief Stuart Thomson and political analyst Tasha Kheiriddin get at what's really going on behind the scenes on Parliament Hill every Wednesday and Friday, exclusively for subscribers. Sign up here . Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our daily newsletter, Posted, here .
Yahoo
12-04-2025
- Business
- Yahoo
Domestic missile production increases eightfold in 2024, Ukrainian minister says
Has significantly ramped up weapons manufacturing over the past year and is using domestically produced ballistic and cruise missiles every month, the country's Minister for Strategic Industries said. At a briefing marking Ukraine's Gunsmith Day, Strategic Industries Minister Herman Smetanin said the country increased cruise missile production eightfold in 2024 compared to the previous year. He highlighted the progress since 2022, when Ukraine was only able to manufacture a single type of cruise missile, the Neptune. 'Last year, we introduced many new models, allowing us to grow production eightfold compared to 2023,' Smetanin said. Ukraine has also more than doubled its production of long-range drones in 2024 compared to the previous year, which is a 22-fold increase compared to 2022. In total, 324 new types of weapons were developed in Ukraine by the end of 2024. Smetanin said Ukraine produced $9 billion worth of arms in 2024, and the defense industry is on track to nearly quadruple that amount by the end of 2025. 'We already foresee growth this year,' he said. 'By the end of 2025, we will have the capacity to produce $35 billion worth of military equipment domestically.' President's Advisor Oleksandr Kamyshin added that Ukraine can now supply its armed forces with nearly the full range of necessary military goods. 'Today, according to various estimates, 30% to 40% of what our troops use on the front lines is made in Ukraine,' Kamyshin said. 'It's not only about war — it's about our economy. As of last year, defense manufacturing made up a significant share of our GDP. After our victory, I'm confident we'll be exporting Ukrainian-made weapons to the world.' Ukraine has been rapidly developing its domestic arms industry since Russia's full-scale invasion in February 2022. In December 2024, President Volodymyr Zelensky said the country aims to produce 30,000 long-range drones and 3,000 missiles. As of November 2024, Ukraine had produced its first 100 domestically made missiles. Ukraine has also turned to local production to address battlefield shortages and reduce dependency on foreign supplies, including new domestic artillery contracts. Read also: Allies pledge 'record' $23.8 billion to Ukraine at Ramstein summit as UK warns 2025 will be 'critical' We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Yahoo
12-04-2025
- Business
- Yahoo
Ukraine increases cruise missile production eightfold in 2024
The Ministry of Strategic Industries has reported an eightfold increase in the production of cruise missiles in Ukraine in 2024 compared to 2023. The production of long-range drones and the overall volume of domestically manufactured weaponry have also significantly increased. Source: Herman Smetanin, Ukraine's Minister of Strategic Industries, during a briefing marking the Defence Industry Workers' Day, as reported by Suspilne Details: Smetanin noted that the Ukrainian defence industry had shown unprecedented growth in 2024. Whereas a few years ago the country was producing only Neptune cruise missiles, Ukraine now has "many new products, which have ensured an eightfold increase in production volumes compared to 2023". He also highlighted the increase in the production of long-range drones: their output has more than doubled compared to 2023 and increased 22 times compared to 2022. A total of 324 new types of weapons were developed in Ukraine in 2024. According to the ministry, Ukraine produced weapons worth a total of US$9 billion. "This year, we already see growth. We will have the capacity to produce military equipment worth US$35 billion within Ukraine by the end of the year," Smetanin added. Oleksandr Kamyshin, a strategic issues advisor to President Volodymyr Zelenskyy, stated that the domestic defence industry is currently capable of supplying the Armed Forces of Ukraine with almost the entire range of necessary military goods. Quote from Kamyshin: "Today, according to various estimates, 30% to 40% of what our soldiers are fighting with is produced in Ukraine. This is also our economy. As of last year, a significant share of GDP was already accounted for by our defence sector. I am confident that we will be able to and will export our weapons after the war ends with our victory." Support Ukrainska Pravda on Patreon!
Yahoo
22-03-2025
- Business
- Yahoo
Czech president visits Bren-2 rifle production in Ukraine
Czech President Petr Pavel visited a plant producing Bren-2 assault rifles under the licence of Česká Zbrojovka, a Czech armament manufacturer, during a visit to Ukraine. Source: Herman Smetanin, Ukraine's Minister of Strategic Industries, as reported by European Pravda Details: Smetanin noted that Ukrainian weapons makers have been trained in Czechia and are now applying NATO experience and technologies at the Ukrainian plant. "Therefore, I demonstrated to the President how the assembly process works at different stages, as well as the first assembled rifles," Smetanin wrote. In addition, he noted that several important documents had been signed during the visit, particularly those related to the supply of components for the localised production of small arms ammunition and the assembly of Bren-2 assault rifles. Background: Pavel visited Odesa on the day when Russian forces launched a large-scale drone attack on the city. The Czech president later remarked that such large-scale attacks, occurring as negotiations for a ceasefire and a potential peace agreement are starting, do not suggest that Moscow is serious about pursuing peace. Support Ukrainska Pravda on Patreon!
