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Finance Minister Chrystia Freeland says the federal authorities is placing practically $200 million in new cash towards supporting low-income renters and shelters.
Ottawa is pouring a further $99 million into the Canada Housing Profit, which provides monetary assist for low-income renters in partnership with provinces and territories.
Freeland says one other $100 million will go towards emergency winter funding to assist shelters to create extra areas for folks with out housing.
The measures come as the federal government faces growing strain to handle skyrocketing hire costs and assist communities battling homelessness.
Freeland made the announcement alongside different cupboard members at a weekly information convention in Ottawa.
Ministers with portfolios that contact on the economic system have been holding almost-weekly information conferences because the fall as a part of the Liberal authorities’s effort to promote insurance policies that deal with cost-of-living points.
“Everyone knows that housing is the central problem in Canada proper now,” Freeland stated Tuesday.
“It’s a central problem in folks’s lives, and that is very true for Canadians who’re battling the excessive value of hire.”
Knowledge from Leases.ca and market analysis agency Urbanation confirmed the typical asking hire for December in Canada jumped 8.6 per cent year-over-year to a document excessive of $2,178 per thirty days.
This report by The Canadian Press was first revealed Feb. 6, 2024.
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