A Plan to Grow Our Economy and Make Life More Affordable, the Government of Canada will make targeted and responsible investments to create good jobs, grow the economy, and build a Canada where nobody gets left behind.
Today, the Honourable Marci Ien, Minister for Women and Gender Equality and Youth, met with members of the YWCA Calgary to highlight Canada's affordable housing strategy.
Everyone should have a safe and affordable place to call home. Budget 2022 outlines an ambitious plan, one that will need collaboration with provinces and territories, municipalities, and the private and not-for-profit sectors.
The measures proposed in Budget 2022 include:
- Creating at least 6,000 new affordable housing units through the expansion of the Rapid Housing Initiative, with at least 25 percent of funding going towards women-focused housing projects
- $2.9 billion in funding to the National Housing Co-Investment Fund to accelerate the creation of up to 4,300 new units and the repair of up to 17,800 units for the Canadians who need them most
- An additional $458.5 million to provide low-interest loans and grants to low-income housing providers as part of the low-income stream of the Canada Greener Homes Loan Program
- $562.2 million over two years to continue providing funding to Reaching Home for the vital work across the country to continue to prevent and address homelessness
- $150 million over two years to support affordable housing and related infrastructure in the North
- $4.3 billion over seven years towards improving and expanding Indigenous housing in Canada.
Budget 2022 will also put Canada on the path to double housing construction over the next decade, help Canadians save for and buy their first home, and curb unfair practices that make housing more expensive for Canadians.
