Finance Minister Chrystia Freeland announced Tuesday that the federal government will invest nearly $200 million in new money to support low-income renters and to open more emergency shelters for the homeless.
Ottawa is investing an additional 99 million in the Canada Housing Benefit, which provides financial support to low-income tenants, in partnership with the provinces and territories.
Freeland also said an additional $100 million would be dedicated to emergency winter funding to help shelters create more space for unhoused people.
These measures come as Justin Trudeau’s Liberal government faces growing pressure to combat skyrocketing rents and help municipalities struggling with growing homelessness.
Minister Freeland made the announcement Tuesday alongside other members of the Trudeau cabinet at a weekly press conference in Ottawa.
Ministers whose portfolios touch on the economy have been holding almost weekly press conferences since the fall as part of the Liberal government’s efforts to promote public policies that address the cost of living.
“We all know that housing is the biggest challenge in Canada right now,” Ms. Freeland said Tuesday. It’s a challenge at the heart of people’s lives, and it’s especially true for Canadians who struggle with high rent. »
Data from Rentals.ca and market research firm Urbanation showed the average rent charged in December in Canada jumped 8.6% year-over-year to a record high of 2,178 $ per month.
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