The Financial Post reports in its Wednesday edition that the Liberal government was elected on an ambitious housing plan that promises to build nearly 500,000 new homes a year, but a report from TD Bank released Tuesday said the proposed policies will fall short of achieving that goal. The Post's Jordan Gowling quotes the report saying, "Policies reviewed so far are likely to fall well short of closing the gap between the roughly 210,000 completions that Canada averages yearly, and the federal government's goal of getting to 500,000 units delivered over the next decade." The Liberal housing plan, sold as Canada's most ambitious housing plan since the Second World War, promises several initiatives to kickstart housing construction, including cutting the GST for first-time home buyers for new homes at or under $1-million, lowering development charges and reviving a 1970s program called the Multiple Unit Residential Building (MURB) program, which will provide more tax incentives for purpose-built rentals. "All told, these measures could lift housing starts by some 15,000 to 20,000 units above our baseline," the report by TD economist Rishi Sondhi said. "However, the impact could be more apparent over the medium term."