$118.2 million over seven years through the Federal Community Housing Initiative, to support community housing providers that deliver long-term housing to many of our most vulnerable.īudget 2021 proposes to advance and reallocate $1.3 billion, on a cash basis, of previously announced funding, including:.$315.4 million over seven years through the Canada Housing Benefit, to increase direct financial assistance for low-income women and children fleeing violence to help with their rent payments.This new funding would support the creation of up to 12,700 more units. To date, this program has committed funding to support the creation of over 17,600 units, including more than 16,300 affordable housing units and units for persons with accessibility challenges. $600 million over seven years to renew and expand the Affordable Housing Innovation Fund.Overall, this new funding will add a minimum of 4,500 new affordable units to Canada's housing supply, building on the 4,700 units already funded in the 2020 Fall Economic Statement through its $1 billion investment. At least 25 per cent of this funding would go towards women-focused housing projects. An additional $1.5 billion for the Rapid Housing Initiative to address the urgent housing needs of vulnerable Canadians by providing them with adequate affordable housing in short order.To help Canadians find affordable housing, spur job creation and local economic recovery, alleviate cost pressure in the housing market overall, and grow the middle class:īudget 2021 proposes to provide an additional $2.5 billion over seven years to Canada Mortgage and Housing Corporation, including: Investments to make housing more affordable for the most vulnerable, coupled with measures to limit foreign speculation in the housing market, will help ensure that our economic recovery is an inclusive one that helps more people join the middle class. ![]() The COVID-19 recession has widened gaps in Canadians' access to housing. This will help families, young people, low-income Canadians, people experiencing homelessness, and women and children fleeing violence find a safe and affordable place to call home. ![]() And, the government will introduce Canada's first national tax on vacant or underused residential property owned by foreign non-residents. That's why the government has a plan to invest $2.5 billion, and reallocate $1.3 billion in existing funding to speed up the construction, repair, or support of 35,000 affordable housing units. High housing costs, especially in urban centres, continue to place middle class and low-income Canadians under huge financial pressure. Stable housing is critical for communities and for a strong middle class. A long-term plan for a faster-growing Canadian economy must include housing that is affordable for working Canadians, especially young families.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |