A Plan to Grow Our Economy and Make Life More Affordable, the Government of Canada makes targeted and responsible investments to create good jobs, grow our economy, and build a Canada where nobody gets left behind.
Today, Minister of Families, Children and Social Development Karina Gould, highlighted new investments to make housing more affordable. The Minister also participated in a roundtable with stakeholders in Windsor and a meet and greet at a housing Co-Operative in Chatham to discuss next steps that will help build more homes and make housing more affordable across the country.
Canadians are the backbone of a strong and growing economy, and measures that support access to housing and a growing workforce are imperative for economic growth.
Budget 2022 housing measures will put Canada on the path to double housing construction over the next decade; help Canadians save for and buy their first home; ban foreign investment in Canadian housing; and curb unfair practices that make housing more expensive for Canadians.
Canada entered the pandemic with the lowest net debt-to-GDP ratio of all G7 countries-an advantage that has since increased relative to other countries. Canada has seen the best jobs recovery in the G7, and as of March 2022, has recovered 115 per cent of the jobs lost at the height of the pandemic, with an unemployment rate that sits at just 5.3 per cent-the lowest rate on record since 1976. With Budget 2022, Canada will maintain this leading position, and maintain its fiscally responsible approach to economic growth and to building an economy that works for everyone. Crucially, it upholds the government's fiscal anchor-a declining debt-to-GDP ratio and the unwinding of COVID-19-related deficits, which will ensure that Canada's finances, remain sustainable in the long-term.
