Today, the Honourable Gudie Hutchings, Minister of Rural Economic Development, highlighted the housing investments and measures proposed in Budget 2022, including introducing the Tax-Free First Home Savings Account, doubling the First-Time Home Buyers' Tax Credit to $10,000, supporting rent-to-own projects and prohibiting foreign investment in residential real estate to avoid driving up housing costs in Canada.
Canadians see owning a home as key to building their future and joining the middle class. 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. Budget 2022 also proposes investments that will ensure Canadian workers have the skills they need for the well-paying jobs of today and tomorrow and will make it easier for the skilled immigrants that our economy needs to make Canada their home.
