KINGSTON, ON, April 24,
2024 /CNW/ - The federal government recently
delivered Budget 2024: Fairness for Every Generation.
It is a plan to build a Canada
that works better for everyone, where younger generations can get
ahead, where their hard work pays off, and where they can buy a
home—where everyone has a fair chance at a good middle-class
life.
Today the Honourable Kamal Khera, Minister of Diversity,
Inclusion and Persons with Disabilities and Mark Gerretsen, Member of Parliament for
Kingston and the Islands, met with
the Kingston and Frontenac Housing
Corporation in Kingston, Ontario,
to highlight Budget 2024's investments that would make more
government land available to build homes for Canadians,
including:
- Building homes on public lands with the new Public
Lands for Homes Plan. The federal government would unlock
250,000 new homes by 2031, by using all tools available to convert
public lands to housing (such as unused or underused office towers
or parking lots), including leasing, acquiring other public lands
for housing, and retaining ownership, whenever possible.
- Building homes on Canada Post properties by taking steps
to enable Canada Post to prioritize leasing or divesting post
office properties and lands with high potential for housing. This
plan would make sure postal service is not disrupted and would
maintain Canada Post's role as a "service first" organization
focused on delivering the mail.
- Building homes on National Defence lands by exploring
the redevelopment of properties that could be suitable for both
military and civilian uses, divesting 14 surplus properties with
housing potential, and building and renovating housing for Canadian
Armed Forces personnel on bases.
- Converting underused federal offices into homes with
$1.1 billion over 10 years to
transform 50% of the federal office portfolio into housing, which
will save $3.9 billion over the next
10 years, with $0.9 billion per year
in ongoing savings. This would enable more office buildings,
particularly in urban areas, to be converted into homes for
Canadians.
Budget 2024 is a plan to deliver
fairness for every generation.
First, the budget takes bold action to build more
homes. Because the best way to make home prices more
affordable is to increase supply—and quickly. It lays out a
strategy to unlock 3.87 million new homes by 2031. Key measures
include launching the new Public Lands for Homes Plan and the
Canada Rental Protection Fund, enhancing the Canadian Mortgage
Charter, and creating a new Canadian Renters' Bill of Rights.
Second, it will help make life cost less. The budget
builds on the Government's transformative expansion of Canada's social safety net—$10-a-day child
care; dental care for uninsured Canadians, the first phase of
universal pharmacare—and advances the Government's work to lower
everyday costs for Canadians. This includes helping to stabilize
the cost of groceries, cracking down on junk fees and lowering the
costs of banking. Budget 2024 also makes transformative new
investments, including a National School Food Program and the
Canada Disability Benefit.
Third, this year's budget will grow the economy in a way
that's shared by all. The Government's plan will increase
investment, enhance productivity, and encourage innovation. It will
create good-paying and meaningful jobs, keep Canada at the economic forefront, and deliver
new support to empower more of our best entrepreneurs and
innovators. This includes attracting more investment in the
net-zero economy by expanding and delivering the major economic
investment tax credits, securing Canada's advantage as a leader in artificial
intelligence, and investing in enhanced research grants that will
provide younger generations with good jobs and new opportunities.
And it means ensuring that Indigenous Peoples share in this growth
in a way that works for them.
Budget 2024 will also make Canada's tax system fairer by asking the
wealthiest to pay a bit more—so that the Government can invest in
prosperity for every generation, and because it would be
irresponsible and unfair to pass on more debt to the next
generations. Budget 2024 is a responsible economic plan that
upholds the fiscal objectives outlined in the 2023 Fall Economic
Statement, and sees Canada
maintain the lowest deficit- and net debt-to-GDP ratios in the
G7.
Quotes
"Our government first came to office with a vow to strengthen
and expand the middle class. We delivered on that pledge by
reducing poverty, especially for children and seniors, and creating
millions of good jobs for Canadians. Our work isn't done. Budget
2024 renews our focus on unlocking the door to the middle class for
millions of younger Canadians. We'll build more housing and help
make life cost less. We will drive our economy toward growth that
lifts everyone up. That is fairness for every generation."
- The Honourable Chrystia Freeland, Deputy Prime Minister and
Minister of Finance
"Our new housing plan will break down significant barriers to
the construction of new homes, notably the scarcity and high cost
of land. Unlocking 250,000 new homes by 2031 through the new Public
Lands for Homes Plan will directly benefit Canadians from here and
across the country. This is the fairness that Canada is working towards, the opportunity for
every Canadian, regardless of age, ability, or intersectionality,
to have a safe, accessible and affordable place to call home."
- The Honourable Kamal
Khera, Minister of Diversity, Inclusion and Persons with
Disabilities
"Today's announcement underscores the groundbreaking impact
Budget 2024 will have on Kingston.
By leveraging Canada Post properties, National Defence lands, and
underused federal offices, our community will gain access to safe,
accessible, and affordable housing. This marks a transformative
step toward ensuring that even more Kingstonians have the
opportunity to achieve homeownership, making our city a place where
everyone can truly call home."
- Mark Gerretsen, Member of Parliament for
Kingston and the Islands
Related products
- Budget 2024: Fairness for Every Generation
- Budget 2024: Remarks by the Deputy Prime Minister and Minister
of Finance
- Budget 2024: Key Measures (available in non-official
languages)
- Backgrounder: More Affordable Homes
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SOURCE Employment and Social Development Canada