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Liberals announce ‘ambitious’ plan to build millions of homes by 2031

By Caitlin Snow Apr 12, 2024 | 3:34 PM

An ambitious housing announcement by Ottawa just a few days shy of the federal budget.

Prime Minister Justin Trudeau says it’s on a scale not scene in generations.

“We are releasing the most comprehensive and ambitious housing plan ever seen in Canada.”

The feds will aim to build 3.9 million homes by 2031.

Trudeau says Canadians need homes they can afford and rolled out a mission that has three main goals.

Building more homes by bringing down costs, making it easier to own or rent a home and to help Canadians who can’t afford a home.

“It’s a plan that at its heart is a commitment to affordability. Our goal is that no Canadian pays more than 30 per cent of their income towards their home. It’s also a plan to make sure we don’t leave the most vulnerable, behind,” said Trudeau.

This includes the recently announced $6 billion Canada Housing Infrastructure Fund in addition to another $400 million added to the Housing Accelerator Fund.

Along several other measures, to help those renting, they are launching a Tenant Protection Fund and providing $1 billion to the Affordable Housing Fund for those who can’t afford a home.

They will also make the effort to build more homes on public land, as well as supporting skilled trade workers and creating apprenticeships.

Deputy Prime Minister Chrystia Freeland says they are acting now to build a Canada that works for younger Canadians.

“A Canada where they can get ahead and where they know their hard work will pay off.”

The federal budget will be announced April 16.