Maple News reports that the Canadian government has introduced a new round of affordability measures aimed at addressing the growing financial pressures faced by both recent immigrants and long-term residents. This comes in response to mounting concerns over the rising cost of living, particularly in housing and essential goods such as groceries.
A recent Leger poll commissioned by OMNI News highlights the severity of the issue, revealing that 83% of 1,522 surveyed newcomers feel affordability challenges are making it harder to settle in Canada. These findings align with a recent Statistics Canada study indicating that over one-third of new immigrants are living in rental situations deemed unaffordable—spending more than 30% of their pre-tax income on housing.
To combat the housing crisis, Deputy Prime Minister Chrystia Freeland announced an additional $99 million CAD investment into the Canada Housing Benefit (CHB). This brings the total funding for the program to $325 million CAD for 2023–2024. The CHB provides direct financial relief to low-income renters through provincial and territorial programs, and is part of a larger, multi-year federal commitment of $4.8 billion CAD over eight years.
This funding boost is part of a broader suite of housing initiatives aimed at increasing affordability and supply. These include the $4 billion Housing Accelerator Fund, which encourages municipalities to fast-track the development of 100,000 new homes by eliminating restrictive zoning; the Canadian Mortgage Charter, which promotes flexible repayment solutions for struggling homeowners; and the Tax-Free First Home Savings Account, which allows first-time buyers to save up to $40,000 CAD tax-free toward their downpayment.
In addition to the housing measures, the government is taking steps to investigate and potentially address corporate practices affecting grocery prices and essential household goods. Innovation, Science and Industry Minister François-Philippe Champagne announced plans to triple funding for Canada’s Contributions Program for Non-profit Consumer and Voluntary Organizations. This enhanced funding aims to support deeper research into consumer protection and pricing transparency.
These affordability efforts reflect a continued focus from the government, which initiated similar measures in previous years. The most recent Fall Economic Statement further emphasized strategies to increase affordable housing stock, reinforcing Ottawa’s commitment to support both established communities and Canada’s rising newcomer population.
By focusing on both immediate financial relief and long-term solutions, these initiatives aim to create a more inclusive and sustainable economic environment for everyone living in Canada.