Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, and the Honourable Ahmed Hussen, Minister of International Development, announced that the federal government will provide over $162 million in additional support to the City of Toronto.
First, the federal government will provide an additional $143 million for Toronto through the Interim Housing Assistance Program (IHAP) to reimburse costs incurred by the city in 2023 and the first quarter of 2024. This additional funding will help the city to shelter the vulnerable asylum claimants it welcomes, who come to Canada seeking protection from violence, war, and persecution. Today's funding is part of the $362.4 million national IHAP top-up announced on January 31, 2024, and is in addition to the $97 million top-up announced for Toronto in July 2023, bringing Toronto's total federal funding through IHAP to $240 million this fiscal year.
Second, the federal government will deliver a $19.75 million top-up to the City of Toronto's share of the Canada-Ontario Housing Benefit. This benefit provides direct financial support to low-income renters to help them cover the cost of rent. To support low-income renters across Canada, the government will soon announce details on a national top-up to the Canada Housing Benefit.
With today's investments, the City of Toronto is expected to receive $1.65 billion in federal funding in 2023-24-an increase of over 700 per cent since 2015-16, when Toronto received just $205 million.
The federal government is taking bold action and working with all orders of government to advance its economic plan to build an economy that works for everyone. This includes making sure everybody, including newcomers and low-income renters in Toronto, has a safe and affordable place to call home.
