Next phase of the federal government's economic update is to build more housing and make life more affordable
Our government is making investments to secure a strong future for Canadians.
Canadians are concerned they won't be able to afford a home. Our government has heard these concerns and we are taking action.
The government is accelerating its work to build more homes, faster, and make housing more affordable. Building on the significant action the government has already taken, the 2023 Fall Economic Statement introduces billions of dollars in new financing to build more homes, faster, takes steps to crack down on short-term rentals so that homes can be used for Canadians to live in, and create jobs for construction workers. We are also introducing the new Canadian Mortgage Charter which will relieve temporary stress caused by higher interest rates and help Canadians stay in their homes. Today, we continue the work of leading a national effort to make housing more affordable across Canada.
Today the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) visited a CityHousing Hamilton construction project to see how Government of Canada investments are alleviating Hamilton's housing crisis. Afterwards, Minister Tassi met with the Good Shepherd in Hamilton to discuss how the government's economic plan will take further action to support the middle class and build more homes, faster, as part of the 2023 Fall Economic Statement.
We are leading the charge to build the homes that Canada needs. This means bringing together provincial, territorial, and municipal governments, in partnership with construction workers, financiers, community housing providers, post-secondary institutions, and Indigenous organizations and governments, to work together to find solutions to this generational challenge.
The Government of Canada is building a strong foundation and setting the groundwork in communities across southern Ontario for a prosperous future that works for everyone.
