Federal budget: $10 billion for housing

The federal budget to be presented on Thursday will include $10 billion for housing assistance, TVA Nouvelles has learned.

• Read also: Budget: Plante wants funds for housing and public security actions

• Read also: “Autistic people must be everywhere,” says Mathieu Gratton

During the last election campaign, Justin Trudeau made numerous promises to reduce the cost of housing, which is becoming increasingly unaffordable for many Canadians.

A government source who spoke on condition of anonymity said housing will receive the lion’s share of new spending to be announced in the budget to be tabled by Minister Chrystia Freeland on Thursday.

Of the $10 billion over five years to be announced, $4 billion will be used to create 100,000 housing units across the country.

The government thus wishes to increase the number of available housing units in order to make housing more affordable.

Still according to our information, the government will also take advantage of the budget to prohibit the purchase of residential properties by non-Canadians, to introduce a tax-free savings account for first-time home buyers, in addition to prohibiting blind bids when buying a property.

These prevent buyers from knowing about other offers, which leads to price wars.

The budget should also confirm the nine billion dollars recently announced by Justin Trudeau for the fight against climate change.

Everything also indicates that the federal government will increase its military spending following the Russian invasion of Ukraine.

During the election campaign last fall, Justin Trudeau made promises valued by his party at $78 billion.

To this must be added the most recent commitments resulting from the pact that the government concluded with the NDP, such as the dental insurance program which is to be introduced this year for children 12 and under.

The government should also follow through on its promise to impose a surtax on banks and insurance companies.

Leave a Comment