Alongside the introduction of the provincial sales tax grant program, we have put in place other initiatives to encourage the development of more affordable rental homes. We have streamlined the Land Use Approvals process. We have amended the Ontario Building Code. We also passed the Fair Municipal Finance Act. And the name of the Act indicates exactly what it does.
Municipalities have the power to ensure that rental properties are taxed at a fair rate.
We've made it possible for municipalities to reduce the tax burden on existing rental apartments over time. And we've given them the ability to tax new buildings in a fair manner right away as a spur to new construction. Municipalities are indeed part of the solution. Another part of the solution has been the introduction of the Tenant Protection Act. To continue to provide tenant protection, as well as balance the needs of landlords and tenants.