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Budget 2024: Boldest federal housing investment in more than 50 years lays a clear path to fixing Canada’s housing crisis.

April 16, 2024 - 2:34 pm / News

Ottawa, Ontario (April 16, 2024) – The 2024 federal budget, presented today by Deputy Prime Minister and Finance Minister Chrystia Freeland, introduced the most ambitious federal housing investment in more than 50 years, laying a clear path to solving the housing crisis and alleviating homelessness.  

Budget 2024 includes billions in new spending on affordable housing and homelessness, an ambitious federal land for housing program, additional funding for Reaching Home with measures to accelerate reductions in homelessness, measures to help communities respond to encampments, the outline of a plan to move asylum seekers out of municipal homeless shelters, funding for the Canada Disability Benefit, and new tax measures to spur urgently needed rental housing construction.  

“The measures introduced today, if implemented, will alleviate the housing crisis and lead to reductions in homelessness,” said Tim Richter, President and CEO of the Canadian Alliance to End Homelessness. “But it will take time to deliver all this housing and I worry about those Canadians who are struggling to pay their rent today and may find themselves homeless tomorrow.” 

Missing from Budget 2024 are investments to address the wave of new homelessness crashing down across Canada today. A Homelessness Prevention and Housing Benefit is an urgently needed tool to help vulnerable renters keep their homes, while we get more affordable homes built. 

The Canadian Alliance to End Homelessness will review the budget in detail and share a detailed analysis in the coming days.  

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About the Canadian Alliance to End Homelessness 

The Canadian Alliance to End Homelessness leads a national movement of individuals, organizations and communities working together to end homelessness in Canada.