Ottawa, March 31 -- The province of Ontario and the federal government on Monday announced a new housing and infrastructure partnership that includes tax cuts and billions of dollars in funding aimed at boosting home construction and lowering costs.

Prime Minister Mark Carney and Ontario Premier Doug Ford said in a staememt that the plan would reduce taxes and fees on new homes by up to C$200,000 and accelerate housing supply in the province.

Officials said high upfront development costs have been a major barrier to new housing projects, and reducing them is expected to speed up construction.

The plan also includes tax relief for homebuyers, with the removal of the full 13% harmonised sales tax on new homes valued up to C$1 million. Pa...