In the GTA alone, more than 37,000 new homes were sold. The Ontario Land Transfer Tax refund is certainly helping in that regard. We have renewed it. And most recently we have announced its extension until March 31, 2001. And certainly the exemption is returned many, many times over.
New homeowners make an enormous investment in our economy.
Ladies and gentlemen, in so many ways, our government has put into place the conditions for growth and prosperity for the people of Ontario. Alongside many other benefits, it has meant more home construction. And we believe it will also mean the creation of more rental housing. In addition, the federal government has finally followed our lead. They have put in place a partial rebate of 2.5 percent of GST on the construction of new rental units.