44th Parl. 1st Sess.
April 30, 2024 10:00AM
- Apr/30/24 10:45:59 a.m.
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Mr. Speaker, I am very pleased to rise today to share with Canadians, especially my constituents of Richmond Centre, the significance of budget 2024. I will be sharing my time with the member for Vancouver Granville.
Budget 2024 is a road map that outlines the path toward a more prosperous, fair and sustainable future, a future that is not only for young adults but also for future generations. The budget has four main focuses: building more homes faster, lowering the cost of living, being fair to every generation and building a climate-resilient generational economy.
Through budget 2024, our government is introducing a bold, fiscally responsible Canada housing plan to unlock 3.87 million homes by 2031. Housing is a necessity and is the foundation of the stability and well-being of individuals and families. As our communities in British Columbia and across Canada are growing, Canada is expected to experience the most growth among G7 countries in 2025. The federal government is taking concrete steps to support the growth of our community and economy. In budget 2024, the federal government is unlocking homebuilding on public lands to utilize our federal resources and address Canadians' housing priorities. We are proposing $1.1 billion in federal funding to convert underused spaces, public land, into homes.
We are also proposing an additional $15 billion in new loan funding for the apartment construction loan program, bringing the program's total to over $55 billion. This investment would help build more than 30,000 additional new homes across Canada, bringing the program's total contribution to over 131,000 new homes by 2032. While we are spurring housing construction across Canada, we are providing over $6 billion to launch a new Canada housing infrastructure fund. This fund would not only accelerate construction but also upgrade and enable infrastructure for water, waste water, stormwater and solid waste, which would directly enable housing supply and help improve densification. That also means more housing near transit, equivalent to accessibility. Through budget 2024, we are leveraging the federal public transit fund to take action that directly unlocks the housing supply where it is needed most. To build all of this, we propose to increase the number of construction workers by creating new opportunities for apprentices and recognizing foreign credentials.
In budget 2024, we are also making it easier for Canadians to rent or own homes, by introducing initiatives such as the tenant protection fund, the new Canadian renters' bill of rights, the Canadian home buyers' plan and an updated version of the Canadian mortgage charter. We are making sure that renters in Canada have better rental protections while enabling them to use their rent records for credit, and much more.
An important initiative that our housing plan is moving forward on is to establish a national flood insurance, a subsidiary of the CMHC to deliver flood reinsurance. This would help communities in my riding of Richmond Centre by improving flood prevention and insurance. It would also help put many Canadians and their families at ease in Richmond.
Most importantly, we all have seen the significant impact the housing accelerator fund has brought to communities across Canada. I am quite proud and pleased that in January of this year, I was able to announce with the City of Richmond bilateral agreements to fast-track more than 1,000 housing units over the next three years and 3,100 homes over the next decade. These agreements provide $35.9 million to eliminate barriers to building the housing we need, faster. In budget 2024, we are providing an additional $400-million top-up to further even more the impact of the housing accelerator fund.
The budget is making housing more accessible and affordable for Canadians across the country. It is also equipping Canada to compete even further with respect to its economy, including the highest growth among the G7 countries in 2025. Furthermore, budget 2024 is also a plan to lower the cost of living for Canadians, and we are continuing our leadership in making sure every generation has the support it needs in order to succeed.
The Canadian dental care plan continues to roll out, providing oral health care access to over nine million uninsured eligible Canadian residents. In budget 2024, we are building an even stronger social safety net. We are introducing the first phase of the national pharmacare plan, providing immediate support to over three million Canadians living with diabetes and over nine million women and gender-diverse Canadians with free coverage for medications.
For parents in Canada the national school food program will deliver nutritious meals to over 400,000 children across Canada each year, saving the average participating family as much as $400 per year per child in grocery costs.
For Canadians with disabilities we are providing $6 billion, for the first time ever, through the Canada disability benefit, to provide additional support that will impact over 600,000 low-income Canadians with disabilities.
As we continue working with provinces and territories to better our health care and our social care system, in 2024-25, we have provided for over $7 billion through the Canada health transfer and over $2 billion through the Canada social transfer to British Columbia. These two transfers will help B.C. strengthen its health care system and further the impact of social programs like $10-a-day child care.
Budget 2024 is about fairness for every generation. It is about making life cost less and ensuring Canada's social safety network for every generation. We are helping youth in Canada with more support in student grants, loans, housing, mental health, employment and young entrepreneurship. For seniors in Canada, through the ongoing old age security program, we are delivering over $80 million in benefit payments to over seven million seniors this year alone.
Budget 2024 introduced a tax change on capital gains to make Canada's tax system more fair. We are increasing the inclusion rate on the capital gains that will impact only the wealthiest 0.13%. Personal income tax on capital gains will not increase for 99.87% of Canadians. Through our lifetime capital gains exemption, 88% of businesses in Canada, especially small businesses, will be exempt from tax on capital gains.
Budget 2024 is about fairness for every generation. That also includes our economy and a global earth where our children and their children and grandchildren can succeed and thrive. This is where we continue to build a climate-resilient generational economy, and we are securing the future of the Canadian economy in innovation sectors such as artificial intelligence, electric vehicles, research, renewable fuels and green infrastructures. We recognize the urgency of combatting climate change and building a climate-resilient economy. Budget 2024 seeks to minimize the impacts of climate change and safeguard the well-being of future generations.
Budget 2024 takes a team Canada approach, which has always been a core belief of our Liberal government. We will work together with provinces, territories, municipalities, the private sector and indigenous communities. We will not marginalize anyone who wants to do the right thing for Canadians; rather, we will be there to support them. As we continue on this transformative journey, let us seize the opportunities and work together to build a better future for all Canadians.
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- Apr/30/24 11:59:02 a.m.
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Madam Speaker, the member talked a lot about housing and the incredible number of photo ops, billions of dollars of photo ops, which the NDP-Liberal government has had with respect to housing. I have a really simple question for the member, and I am sure she can provide an answer to the House and to all Canadians.
As of today, how many houses has the NDP-Liberal government actually built for the billions of dollars of photo ops?
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Madam Speaker, I want to thank my hon. colleague for his support for the national eye strategy, which is now in the Senate. I would urge him to talk to the Conservative members in the Senate and ask them to please pass Bill C-284 for the national eye strategy.
I will move on to the question he asked me about housing. It is no secret that housing takes years to build, but we have been building housing for several years. About a thousand units have gone up in the west end of Toronto in the last two years. This housing is up now and available. There will be much more, but we all know it takes time to build housing.
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- Apr/30/24 12:00:35 p.m.
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Madam Speaker, I listened with interest to the member’s presentation.
No one here will deny that there is a housing crisis, to be sure. We have been talking about it for a long time, and we have been providing examples to highlight the issues for a long time. The government had a national housing strategy. Is the fact that we are talking about it now an admission of failure about its own strategy? In fact, it is the provinces, cities and municipalities that are in charge of housing.
The main thing I want to say about the budget is that you can list all the measures you want, but it will not do well in the polls. You did not wow anyone. There is no wow factor.
There is a lot of interference in provincial and Quebec jurisdictions. However, when it comes to your own areas of jurisdiction, such as pensions, old age security and employment insurance, there is nothing. There is no commitment from the government to finally eliminate discrimination against seniors aged 65 to 74. There is no commitment from the government to reform the EI system, which leaves behind thousands of unemployed people.
What does the government have to say about not investing in its own programs?
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- Apr/30/24 12:02:34 p.m.
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Madam Speaker, when we talk about housing and why the housing file is so complex, it is the responsibility of municipalities. It is their job to work with developers to see that housing gets built. For far too long, too many municipalities have put up as many roadblocks as possible against much of this housing. People say that they do not want it in their backyard or that they do not want apartment buildings or condos in their backyard. They want to keep the same kind of community they have always had. It is admirable to want that, but the world is expanding. Immigration is a huge tool for Canada, and we need it to happen, but we need to have housing built. It takes the municipalities to do that.
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- Apr/30/24 12:50:51 p.m.
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Madam Speaker, first nations across Canada are facing a housing crisis, a crisis that did not just happen but is the result of years of Conservative and Liberal underfunding of housing on reserve. The Auditor General recently revealed that first nations in Manitoba, Saskatchewan and Alberta have been underfunded based on incorrect census information.
Does the member agree that significantly more money must be invested in housing by the federal government, housing on reserve in particular, and in the Prairies where chronic underfunding based on wrong census data has been identified?
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- Apr/30/24 12:51:25 p.m.
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Madam Speaker, we can spend months talking about that issue because it is a very important issue. In my limited amount of time, I will say that the fact that census data is incorrect shows that nobody trusts the government. Nobody wants to give the government accurate information because nobody trusts it. Maybe if the government spent more time trying to build trust rather than destroy it, we would have more accurate information so we can get programs like housing on reserve correct.
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- Apr/30/24 12:52:07 p.m.
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Madam Speaker, I will be sharing my time with the very passionate and hard-working member for Châteauguay—Lacolle.
I rise today to speak to budget 2024. This budget represents a significant step forward in achieving the goals set by our government to uplift Canadians and build a stronger, safer nation. Our government’s plan is to build a Canada that works better for everyone, but particularly those from the younger generation, so they can have a fair chance at a good middle-class life.
Canada’s net debt-to-GDP ratio is well below that of our G7 peers. Our deficits are declining, and we are one of only two G7 countries rated AAA by at least two of three independent credit experts.
In my speech today, I will touch on how our plan entails taking bold action to build more homes faster and help make life more affordable.
The urgent need for more housing in our country cannot be overstated. Every Canadian, regardless of their background, should have the opportunity to find a safe and affordable place to call home. Every generation deserves a fair, healthy future, from children to parents and grandparents. To make that future a reality, we are tackling a generational housing challenge. That is why we are providing a $400-million top-up to the $4-billion housing accelerator fund, which is already fast-tracking the construction of over 750,000 new homes over the next 10 years, thanks to agreements with nearly 180 municipalities, provinces and territories, including Surrey, British Columbia.
We will build more rental apartments faster, with an additional $15 billion in new loan funding for the apartment construction loan program, bringing the program’s total to over 131,000 new homes within the next eight years. In budget 2024, our government is proposing a new secondary suite loan program, which would enable homeowners to access up to $40,000 in low-interest loans to add secondary suites in their homes, whether it be for a new tenant or a family member.
Through the new Canada housing infrastructure fund, our government will accelerate the construction and upgrading of infrastructure in support of building new homes. For first-time homebuyers, we will enhance the homebuyers’ plan by increasing the withdrawal limit from $35,000 to $60,000, allowing individuals to use the tax benefit of an RRSP to save up to $25,000 more for a down payment. We will provide incentives to Canada's educational institutions so they can build more student housing by ensuring they benefit from the removal of the GST on new student residences.
In order to build more homes, we must have the workforce in place and provide the human resources that are necessary. That is why we propose to streamline foreign credentials recognition in the construction sector and create more apprenticeship opportunities to help skilled trades workers build more housing.
This year’s budget will drive our economy toward growth that lifts everyone up. We will launch a new national school food program to expand existing provincial and territorial school food programs so we can provide healthy meals to over 400,000 children each year. This will ensure that children do not arrive at school hungry.
With the implementation of the national pharmacare program, our government is taking the first steps toward launching a program that will ensure that cost is not a barrier for those needing medication for illnesses such as diabetes.
When it comes to public safety, every Canadian has the right to feel safe. No one should feel targeted for who they are or the religion they believe in. Freedom to practice religion without discrimination or persecution is a charter-protected right, and our government is taking action to uphold this right.
To help people feel safe in practising their faith, the security infrastructure program provides funding to organizations to protect communities at risk of hate-motivated crime by enhancing physical security at their gathering places. As part of Canada’s action plan on combatting hate, budget 2024 proposes $32 million over six years, and $11 million ongoing, for Public Safety Canada to further enhance the security infrastructure program. We will cut red tape to make it easier and more efficient for organizations to access the security support they need.
Our government has been committed to investing in the middle class, and the budget continues to show that commitment.
Today is the last day of April, which also means it is the last day of Sikh Heritage Month. Because of an act I introduced as a private member's bill, which received royal assent five years ago today, Canada is the only country in the world to have Sikh Heritage Month enshrined in law. With that being said, I am extremely proud of the work being done by the members of the Sikh caucus, and particularly I want to mention the hon. member for Steveston—Richmond East.
The Liberal caucus has worked hard to secure funding for three projects across Canada that became a priority. This includes nearly $20 million in funding for these three important projects throughout Canada, including $1.8 million for Indus Media Foundation to complete its Canadian heritage short film that highlights the shared military heritage of World War I and World War II that sparked Sikh settlement in Canada. This project, led by Steve Purewal, will showcase contributions to Canada’s settlement history and establish a proud patriotic identity for future generations to come.
Budget 2024 stands as a testament to our unwavering commitment to the well-being and prosperity of all Canadians. It is a comprehensive road map that addresses the pressing needs of our nation by making life more affordable for individuals and families. When it comes to making life more affordable, when I go around to the annual Nagar Kirtan in Surrey or I go door knocking in Surrey—Newton, the people are always appreciative. Whether it is $10-a-day day care, dental care or pharmacare, all of those policies we are bringing in to help the middle class and the ones who need them most are very well appreciated.
I urge all members to support the timely implementation of this budget and to work together to ensure that the transformative vision outlined in budget 2024 is realized.
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- Apr/30/24 1:06:14 p.m.
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Madam Speaker, Canada is faced with a housing crisis. The NDP forced the Liberal government to take some action with respect to that in budget 2024. However, that is not good enough. As the government gives with one hand, it is taking with the other. The rent-geared-to-income subsidies funded by CMHC to provinces and territories will end for many of those programs. That means we will lose thousands of homes because of the ending of these rent-geared-to-income subsidies.
Will the member call on the government to renew the rent-geared-to-income subsidies from CMHC for all non-profits?
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- Apr/30/24 1:06:56 p.m.
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Madam Speaker, I want to thank the hon. member for Vancouver East for the passionate work that she does for her constituents, and not only for her constituents but for the people who need it most.
When it comes to investments in housing, this is the first budget that has ever made historic investments in housing, which we will continue to make so that affordable housing can be the dream of future generations.
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- Apr/30/24 1:07:33 p.m.
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Madam Speaker, I am very pleased to rise in the House today to represent the people of Châteauguay—Lacolle, soon to be Châteauguay—Les Jardins de Napierville.
Budget 2024, tabled on April 16, proposes a suite of measures to make life easier for all Canadians. It addresses the needs of today while looking to the future as well. That is why we are talking about fairness for every generation. We heard from and listened to citizens from across the country, and budget 2024 reflects the needs that they expressed. After listening to my constituents, I am very proud to say that this budget puts housing, health and inclusion front and centre. It proposes a Canada where young people can get ahead, where young families can find affordable housing, where seniors can age with dignity and where everyone can succeed.
One thing we urgently need is housing. The budget proposes an array of measures that will help build more homes. As we know, the best way to make home prices more affordable is to build more housing faster. We are reducing red tape, fast-tracking development, converting public lands to housing and using innovative techniques to build homes more efficiently. In other words, we are changing the way homes are built in Canada.
More than 1,700 post offices could be leveraged to build housing while maintaining Canada Post services, for example. We are making it easier for renters, especially millennials and gen Z, to buy a home. We will help them save for a down payment tax-free. We are giving renters credit for rental payments so they will have a better chance of qualifying for their first mortgage. We are protecting affordable housing while creating thousands of new units across Canada.
These measures are in addition to the FHSA program, which we announced last year and which has already enabled tens of thousands of young Canadians to begin saving for a down payment on their first home. This program allows participants to save up to $8,000 a year, which is tax-deductible. After five years, they can take the money out without having to pay tax on it. It is a fantastic program. I encourage all of the young people tuning in today to open an FHSA at a financial institution near them. The program will make a huge difference for young families who, until now, have been unable to purchase a first home because of difficulty raising the down payment.
Building more homes also requires building more water, waste water and stormwater infrastructure. We understand that building these new homes will create considerable additional costs for municipalities. Budget 2024 launches the new Canada housing infrastructure fund, which will provide $6 billion to Infrastructure Canada over 10 years starting in 2024-25 in order to accelerate the construction of this infrastructure. That is great news for our region.
Our commitment to fairness for every generation is also seen in our fight against homelessness. I am sure I am not giving members any news when I say that it is not a level playing field for everyone here in Canada. That is why Reaching Home, Canada's homelessness strategy, is a community-based program that is so important. It is aimed at preventing and reducing homelessness across Canada. This program provides funding to urban, indigenous, rural and remote communities to help them address their local homelessness needs.
Budget 2024 proposes to provide more than $1 billion in supplementary estimates over four years, starting in 2024-25. It also provides $250 million over two years to address the urgent issue of encampment and homelessness.
Reaching Home supports the goals of the national housing strategy, in particular to support the most vulnerable Canadians in maintaining safe, stable and affordable housing and to reduce chronic homelessness nationally by 50% by fiscal year 2027-28. That is equity.
We are making life cost less and strengthening Canada's social safety net for every generation. Ten-dollar-a-day child care, which we have had for a long time in Quebec, is already saving parents thousands of dollars a year and giving young Canadians the security they need to start a family of their own.
New programs like dental care and the national school food program will also help Canadians. By the way, just this morning, the Conservatives were talking about fifth graders. I wonder if they are prepared to say no to these children who go to school hungry in the morning. Perhaps we should ask them why they will be voting against our budget, which will enable these kids to eat well every day.
We are also very proud of our pharmacare program, especially for insulin and contraceptives, which will help Canadians save even more money. I recently had the opportunity to tour my riding and talk about the Canadian dental care plan, and I saw first-hand how badly this program is needed in our communities. People have signed up in droves. This program will make a difference for many seniors, people like our parents and grandparents, who often unintentionally neglect their oral health because they cannot afford to go to a dentist. People tend to underestimate the impact that poor oral health can have on overall health. This program will also ease the burden on emergency rooms, since many ER visits are related to oral health.
Scientific research has recently linked poor oral hygiene to certain health problems, including periodontal disease, gum disease, and diabetes, heart and respiratory diseases. These findings highlight the importance of good oral hygiene.
We are using innovation and fairness to grow the economy. We have a plan that will increase investment, enhance productivity, and encourage the kind of game-changing innovation that will create good jobs and keep Canada at the economic forefront. This includes expanding and implementing key economic investment tax credits to help build the green economy, cement Canada's position as a leader in the field of artificial intelligence and invest in improving enhanced research support. All of this is really important. We will help people enhance their life's potential while creating an economic environment that is full of opportunities for them. We need this young generation, there is no denying it.
I see that my time is nearly up. In closing, I would just mention one very important thing for farmers in my region. We have announced measures to help farmers by increasing the interest-free limit on loans under the advance payments program. I look forward to taking my colleagues' questions and discussing this at further length.
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- Apr/30/24 2:18:54 p.m.
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Mr. Speaker, budget 2024 promises to deliver a vision for Canada that is fairer and more affordable for every generation.
In my riding of Mississauga—Erin Mills, residents, especially younger generations, deserve a fair chance of purchasing their own homes. That is why budget 2024 proposes an ambitious plan to invest into more affordable housing initiatives to unlock 3.87 million more homes by 2031 for Canadians.
Budget 2024 is also investing $1 billion into the national school food program to the benefit of over 400,000 Canadian children, so no child in this country goes to school hungry. As we know, full bellies lead to sharper minds.
There are so many aspects of budget 2024 that work toward strengthening our middle class, and I encourage all members in the House to support this budget.
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- Apr/30/24 2:40:00 p.m.
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What a day, Mr. Speaker. I am glad the grown-ups are still in the room.
One in four Quebeckers is unable to live with dignity. That is a big deal. That is two million people. Some 25% of Quebeckers scrape by on less than a modest income. Money is too tight for them to buy the things they need. Meanwhile, the Liberals are handing out gifts to oil companies.
Given that housing is the biggest expense for families, when will the Liberals build housing that Quebeckers can afford?
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- Apr/30/24 2:40:40 p.m.
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Mr. Speaker, that is precisely why, in our latest budget, we focused on ensuring fairness for every generation.
A lot of the investments in budget 2024 are specifically focused on homes and affordable housing to ensure that young people, millennials and gen Z can envision someday buying a house and can have their rent actively count toward a credit score that will enable them to get a mortgage.
We are here to make those investments with the most ambitious housing plan Canada has ever seen.
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- Apr/30/24 2:54:38 p.m.
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Mr. Speaker, I would like to thank my colleague from Madawaska—Restigouche for his question.
I was at Canada's Building Trades Unions' conference yesterday to talk to people about how we are going to address the housing crisis in Canada. Budget 2024 provides tens of millions of dollars to support training and apprenticeships for workers from coast to coast to coast to build homes for Canadians for decades to come. Skilled trades will be the driving force behind this effort. We are going to make sure they have everything they need to get the job done.
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- Apr/30/24 3:00:43 p.m.
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Mr. Speaker, this budget is about fairness for every generation. It is about making the essential investments in housing, in affordability, in economic growth.
We agree with the idea behind the question, that the way to finance those investments is to ask those who are doing the best in our society to contribute a little more. That is why, in the budget, we are proposing to increase the capital gains inclusion rate. We hope all members will support that.
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Madam Speaker, it is my pleasure to contribute to this debate today in support of budget 2024.
The budget aims to make our country fairer for everyone, for all generations. As one of the younger MPs in this place, I have heard countless times from people my age and younger how difficult it is for them to visualize the future they had always imagined for themselves.
Millennials and gen Zs are the first generations who are not doing better than their parents. They grew up with a promise that they can do well in school, work hard, get a good job and live a great life. Today's economy is proving all of that to be difficult. Many did really well in school and have great jobs, yet they are still finding it difficult to make ends meet.
Many of my friends, my age and younger, still live with their parents because they cannot afford to buy their own place. At this point, rent is so expensive that it simply is not worth it. Young Canadians are having a hard time getting approved for a mortgage, and some are requiring their parents to act as guarantors. That is if they are lucky enough to come from a family who is well off enough to provide that signature.
This has to change. The backbone of our economy is our youth. They are our present and our future, and they deserve their hard work to pay off. They deserve at least the same opportunities as their parents and grandparents had in order to achieve a good life.
This is why our government put in place, in the last couple of years, the tax-free first home savings account to make it easier for Canadians to save for their first homes. Up to now, over 750,000 Canadians have opened an account to save money to put into a down payment faster, with the help of tax relief.
Budget 2024 proposes an additional support for Canadians to be able to afford a home faster. First off, we know that for homes to become more affordable we need to increase supply. Budget 2024 would include an additional investment of $15 billion in new loan funding for the apartment construction loan program, bringing the program's total to $55 billion since 2017. This new investment would help build more than 30,000 additional homes across the country.
Budget 2024 would also top up the housing accelerator fund to increase the supply of housing faster. This fund would work with municipalities to cut red tape and to fast-track the creation of at least 100,000 new homes across Canada. The investment in budget in 2024 is $400 million over four years and would help fast-track 12,000 new homes in three years.
Another measure that would be extended for an additional two years is the ban on foreign buyers of Canadian homes. People who are not Canadian citizens or permanent residents would continue to be prohibited from buying homes in Canada, as this practice has brought up the value of our homes.
While building new homes is a longer-term solution to bringing down the cost of housing, there are other ways that budget 2024 would aim to help young Canadians buy and keep their first homes. The budget proposes to enhance the Canadian mortgage charter in several ways. It would allow a five-year increase of the amortization period, allowing for a 30-year amortization for first-time homebuyers purchasing newly built homes and making it possible for more young Canadians to qualify for and afford their monthly mortgage payments.
For those who already have a mortgage and whose terms are coming to an end, renewing one's mortgage with today's rates seems quite daunting. However, the Canadian government will be working toward making permanent amortization relief available to protect homeowners who meet specific criteria. Eligible homeowners would be able to reduce their monthly mortgage payment to an amount they can afford for as long as they need to. This would give them an opportunity to stay in their homes for longer.
While housing is one of the most important points in budget 2024, I would like to turn to a few other great supports for Canadians that would be funded in this budget. I will not spend too much time talking about the national school food program because I have already spoken about it at length in this place. I could not be happier that this investment of $1 billion to help kids eat a healthy meal at school has seen the light of day. The only private member's bill I have ever had the opportunity to present in this place, in my time as an MP, was on this very program, because as a teacher, I know just how badly it is needed.
Budget 2024 proposes an investment of $1 billion over five years for the federal government to work with provinces, territories and indigenous partners to expand access to school food programs, with support beginning as early as the new school year. The program is expected to provide meals for more than 400,000 kids each year and is expected to save the average participating family with two children as much as $800 per year in grocery costs, with lower-income families benefiting the most.
Also incredibly important is that the federal government recently introduced legislation that would help make essential medications more accessible and affordable for Canadians, which is a landmark move toward building a national pharmacare program that is comprehensive, inclusive and fiscally sustainable. Bill C-64, the pharmacare act, describes the federal government's intent to work with provinces and territories to provide universal, single-payer coverage for a number of contraception and diabetes medications. Now, budget 2024 proposes to provide $1.5 billion over five years to help Canada support the launch of the national pharmacare program.
We also need more support for persons with disabilities who face significant barriers to financial security, Budget 2024 proposes funding of $6.1 billion over six years and $1.4 billion per ongoing year for a new Canada disability benefit, with payments to eligible Canadians, which would start in July 2025. The Canada disability benefit would establish an important support for persons with disabilities and would ensure a fairer chance for persons with disabilities. It would fill a gap in the federal government's social safety net and is intended to supplement, not to replace, existing provincial and territorial income support measures.
Another aspect I was thrilled to see in budget 2024 is continued mental health support for our young people. The budget proposes an investment of $500 million over five years, beginning in 2024-25, with the goal of reducing wait times and providing more options for youth in need of mental health care. The reason this is so important is that 32% of young people who seek mental health support are unable to access care because of the cost. Whether we are talking about mental health issues brought on by the pandemic or those brought on by the postpandemic economy, gen Z needs that extra help, and the government is here to provide it.
We know that Canada's success, now and tomorrow, depends on the success of its youngest generations, but too many young people feel as though the reward for hard work, which is a secure, prosperous, comfortable middle-class life, is out of reach. For students, even with increases in financial supports, many still need more help to cover rising costs. Budget 2024 announces the government's intention to extend, for an additional year, the increase in full-time Canada student grants from $3,000 to $4,200 per year and interest-free Canada student loans from $210 to $300 per week, in time for the new school year. With this change, Canada's student grants will have doubled in size since 2014.
Grants for part-time students, students with disabilities and students with dependents would also be increased proportionately. Increased grants would support 587,000 students, and increased interest-free loans would support 652,000 students, with a combined $7.3 billion for the upcoming academic year. However, since federal student grants and loans are intended to help cover the cost of shelter, the formula used to estimate students' housing costs has not bee updated since 1998.
Budget 2024 proposes to modernize the shelter allowances used by the Canada student financial assistance program when determining financial need. This new approach would provide additional student aid to approximately 79,000 students each year. The government would also incentivize post-secondary institutions to build more student housing, and would provide the low-cost financing needed so that more students could find an affordable place to call home.
To aid the transition from school to the work world, work-integrated learning opportunities, such as co-ops and internships, are a proven way for post-secondary students to gain the valuable skills, education and real-life experience necessary to get good-paying jobs in important and growing fields.
To create more work-integrated learning opportunities for post-secondary students, budget 2024 proposes to provide $207.6 million for the student work placement program, which has already created over 192,000 work opportunities for post-secondary students since 2017-18. Likewise, the government would invest to create more youth job opportunities to build their skills and to gain meaningful work experience, which will be critical to Canada's economic growth potential in the years to come.
To create 90,000 youth job placements and employment support opportunities, budget 2024 proposes to provide $351.2 million for the youth employment and skills strategy. This includes $200.5 million for Canada summer jobs, including in sectors facing critical labour shortages, and $150.7 million for the youth employment and skills strategy program.
We cannot ignore those younger Canadians who choose to work for themselves and to launch their own businesses, which is an important part of a growing economy. To empower young entrepreneurs, budget 2024 proposes to provide $60 million over five years for Futurpreneur Canada, a national not-for-profit organization that would provide young entrepreneurs with access to financing, mentorship and other business supports to help them launch and grow their businesses.
I can see that my time is up, so I would like to wrap up by saying once more that I support budget 2024.
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- Apr/30/24 3:40:13 p.m.
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Madam Speaker, non-profits in my community were looking at this budget in the hope that there might be more money available to build social housing, non-market housing, after all the talk of what would be in the budget. However, what we find is the rapid housing initiative, funded at a meagre amount of less than $250 million a year for the next five years across the whole country, and that is meant to be spread out.
Could the member speak to whether she is concerned about the lack of funding in this budget despite all of the rhetoric about housing? There is a lack of dollars in the budget for non-profits to build the non-market affordable dignified housing that we need across the country.
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- Apr/30/24 4:41:24 p.m.
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Madam Speaker, we all think that it is essential to ensure that everyone has access to housing and health care, especially when we are in our ridings and we see how hard life is for our constituents, those who are around us every day.
It is important that the federal government use its spending power to make the necessary transfers for infrastructure, particularly when it comes to housing and health care. The federal government is infringing on other jurisdictions by wanting to set conditions that the provinces and municipalities have to meet in order to get that funding.
Since the federal government decided to infringe on our jurisdictions, what conditions does it intend to impose before it will transfer money for housing to Quebec?
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- Apr/30/24 5:10:40 p.m.
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Madam Speaker, I want to get the member's thoughts on the idea of co-operation and working together.
We do have a national situation with housing. I was very pleased to participate in a press conference where we had the Prime Minister, the premier of the province and the mayor of Winnipeg all together talking about how we are going to get more homes built in the city of Winnipeg.
Looking at the national issue of housing, would the member not agree that Ottawa does play the critical role of leadership, but it is going to take the different levels of government coming together to deal with and get optimum solutions on the housing situation?
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