CHBA Welcomes Federal Action on the Underground Economy

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OTTAWA, November 17, 2014 – The Canadian Home Builders’ Association (CHBA) today welcomed the establishment of the Minister’s Underground Economy Advisory Committee by the Honourable Kerry-Lynne Findlay, Minister of National Revenue.

Speaking prior to the Committee’s first meeting in Toronto this morning, CHBA CEO Kevin Lee thanked Minister Findlay for her leadership, noting that “this is an important issue for our industry, and we are pleased to participate.” 

CHBA is hopeful that, by working together with the Minister and other industry groups, effective action on the underground economy will result.

Mr. Lee noted that Canadians spend over $60 billion each year renovating and improving their homes. In turn, this supports more than a half-million jobs, and generates more than $27 billion in wages.

“But our industry and Canadian home owners face a serious problem: the underground or ‘cash’ economy,” he stated. “Homeowners are being hurt by underground ‘cash’ contractors who don’t just cut corners when it comes to paying their fair share of taxes – they cut every corner they can.”

“As a result of their poor quality work, homeowners who think they are getting a deal often end up paying far more as things go wrong, or seeing the value of their home decrease, or both,” he added. “We applaud and welcome the Minister’s efforts to address this serious problem.”

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For more information:

Kevin Lee, Chief Executive Officer

kevin.lee@chba.ca

613.230.3060

In addition to Mr. Lee’s comments, CHBA renovator-members Stefanie Coleman-Dias and Darrin Drake spoke about their first-hand experience with the problems caused by the underground economy in home renovations. Links to Mr. Lee’s, Ms. Coleman-Dias’s and Mr. Drake’s full remarks are below.

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