Statement by Hon. Matthew MacKay in reaction to IRAC rental increase decision

Hon. Matthew MacKay, Minister of Social Development and Housing issued the following statement after IRAC released their decision on rental increases for 2023:

“Now is not the time to introduce record high rental increases in this province. Full stop.

After learning about the decision by IRAC on the allowable rental increases planned for 2023 I am working with staff in the Department of Social Development and Housing to explore all options to intervene on this decision as soon as possible.

At a time when we are experiencing a housing crisis, compounded with record high inflation, we cannot expect Islanders to pay 5-10% more in rent next year. It’s just not in the cards.

Our department has been working around the clock to explore new, innovative, and creative ways to increase the supply of housing in this province. While there are no overnight solutions to the problem, we are working hard to increase availability as quickly as we can to ensure that all Islanders can find adequate housing in our province.

Introducing the biggest increase we’ve seen in the history of our province will only worsen the problem and I’m not letting it happen on my watch.

I want all Islanders to know we are doing everything we can to fix the housing problem in our province and we will be using whatever options we have to reverse this decision.”

Media Contact:
Rebecca Gass
Department of Social Development and Housing 
rjgass@gov.pe.ca