Since 2015, we have helped more than 1 million Canadians find a safe and affordable place to call home. But with housing costs continue to rise across the country, middle and low-income Canadians are continuing to feel the increased financial burdens. That’s why Budget 2021 invests in affordable housing, so we can make life easier for Canadian families, create jobs, strengthen our economy, end homelessness, and grow the middle class.
This budget proposes long-term solutions that will make housing more affordable for middle-class Canadians, help the most vulnerable, and end homelessness across the country:
- Speeding up the construction and repair of 35,000 affordable housing units across Canada.
- Addressing the urgent housing needs of vulnerable Canadians by investing more into the Rapid Housing Initiative.
- Providing direct financial assistance for low-income women and children fleeing violence.
- Introducing Canada’s first national tax on vacant or underused residential property owned by foreign non-residents.
- Investing in safe and affordable housing for Northern Canadians.
- Creating a pilot program to reduce veteran homelessness through rent supplements.
This budget is about finishing the fight against COVID-19. It’s about healing the wounds left by the COVID-19 recession. And it’s about creating more jobs and prosperity for Canadians in the days—and decades—to come.
The COVID-19 recession is the steepest and fastest economic contraction since the Great Depression. It has disproportionately affected low-wage workers, young people, women, and racialized Canadians. For businesses, it has been a two-speed recession, with some finding ways to prosper and grow, but many businesses—especially small businesses—fighting to survive.
Budget 2021 is an historic investment to address the specific wounds of the COVID-19 recession, put people first, create jobs, grow the middle class, set businesses on a track for long-term growth, and ensure that Canada’s future will be healthier, more equitable, greener, and more prosperous.
To learn more about Budget 2021: Click here.