Dartmouth, Nova Scotia – Budget 2021 is the Government of Canada’s plan to finish the fight against COVID-19 and ensure a strong economic recovery that is focused on a more prosperous and innovative future for Canadians.
Today, Minister of Fisheries and Oceans and the Canadian Coast Guard, the Honourable Minister Bernadette Jordan, met with CEO Steve MacDonald from Efficiency Nova Scotia to discuss home retrofitting investments from Budget 2021: A Recovery Plan for Jobs, Growth, and Resilience.
Climate action starts at home-whether it’s replacing drafty windows, installing heat pumps or improving home insulation, home energy retrofits will help Canadians to make their homes more energy efficient and better protected from climate risks. Budget 2021 proposes to provide $4.4 billion to the Canada Mortgage and Housing Corporations (CMHC) to help homeowners to complete deep home retrofits through interest-free loans worth up to $40,000.
The program will help homeowners and landlords who want to retrofit their homes through an authorized EnerGuide energy assessment. To ensure it’s affordable and accessible to as many Canadians as possible, the program will include a dedicated funding stream to support low-income homeowners and landlords with low-income renters, including co-ops and not-for-profit housing.
We want every Canadian to be able to live green, and this program is a critical step in making that a reality. In addition to making our homes more comfortable, retrofitting will reduce energy bills and create good middle-class jobs, especially for skilled workers and tradespeople.
Budget 2021 is a plan to bridge Canadians and Canadian businesses through the crisis and towards a robust recovery. It proposes to extend business and income support measures through to the fall and to make investments to create jobs and help businesses across the economy come roaring back. It will support almost 500,000 new training and work opportunities including 215,000 opportunities for youth; support businesses in our most affected sectors such as tourism and arts and culture; and accelerate investment and digital transformation at small and medium-sized businesses. Budget 2021 is a plan that puts Canada on track to meet its commitment to create 1 million jobs by the end of the year.
Canada entered the pandemic in a strong fiscal position. This allowed the government to take quick and decisive action, supporting people and businesses, and put it in the position to make historic investments in the recovery.
“Our federal budget is going to make it more affordable for Canadians to live green. By supporting energy-efficient retrofits in homes across Canada, we’ll lower the cost of energy bills for homeowners and create jobs through thousands of much-needed retrofits across Canada. With this program, we’re going to make life more affordable and build a greener, more prosperous future for Canadians.”
Minister of Fisheries, Oceans and the Canadian Coast Guard, the Honourable Bernadette Jordan and Member of Parliament for South Shore- St. Margarets.
Building on recent investments, Budget 2021 proposes to provide $17.6 billion towards a green recovery to create jobs, build a clean economy, and fight and protect against climate change. This includes:
- Providing $4.4 billion to the Canada Mortgage and Housing Corporation (CMHC) on a cash basis to help homeowners complete deep home retrofits through interest-free loans worth up to $40,000.
- Loans would be available to homeowners and landlords who undertake retrofits identified through an authorized EnerGuide energy assessment.
- The program will also include a dedicated stream of funding to support low-income homeowners and rental properties serving low-income renters, including cooperatives and not-for-profit owned housing.
- The Government expects to launch the program later this year.
Budget 2021 also includes $101.4 billion over three years in proposed investments as part of the Government of Canada’s growth plan that will create good jobs and support a resilient and inclusive recovery. Key measures include:
- Investing $17.6 billion in a green recovery that will help Canada to reach its target to conserve 25 per cent of Canada’s lands and oceans by 2025, exceed its Paris climate targets and reduce emissions by 36 per cent below 2005 levels by 2030, and move forward on a path to reach net-zero emission by 2050.
- Helping to build, repair, and support 35,000 affordable housing units for vulnerable Canadians through an investment of $2.5 billion and a reallocation of $1.3 billion in existing funding.