The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, delivered the 2023 Fall Economic Statement, with a focus on supporting the middle class and building more homes, faster.
Our economic plan is about building a strong economy that works for everyone—with good jobs that people can count on. This Fall Economic Statement is the next phase of our plan.
In the face of a rapid global increase in interest rates, many Canadians are feeling the squeeze. To support Canadians, the 2023 Fall Economic Statement is focused on two key challenges:
- The first key challenge is supporting Canadians at a time when some prices are still too high and mortgage renewals are looming. With new, targeted measures to help stabilize prices, support Canadians with mortgages, and make life more affordable, our government is taking concrete action to support Canadians.
- The second is building more homes, faster, and making housing more affordable. Building on the action our government has already taken, the 2023 Fall Economic Statement introduces billions of dollars in new financing to build more homes, and takes steps to crack down on short-term rentals and help to make housing more affordable across Canada.
New measures in the 2023 Fall Economic Statement are built upon our responsible economic plan, which sees Canada maintain both the lowest deficit- and net debt-to-GDP ratios in the G7. With new refocusing of spending, we are also taking further action to ensure Canada’s finances remain sustainable—and that we can continue to responsibly invest in Canadians for years to come.
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