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Parliamentary Secretary to the Minister of Veterans Affairs and Associate Minister of National Defence

Randeep Sarai

  • Member of Parliament
  • Parliamentary Secretary to the Minister of Veterans Affairs and Associate Minister of National Defence
  • Liberal
  • Surrey Centre
  • British Columbia
  • Voting Attendance: 67%
  • Expenses Last Quarter: $147,142.20

  • Government Page
Context: House Hansard - 304 - Apr/29/24
Mr. Randeep Sarai (Parliamentary Secretary to the Minister of Veterans Affairs and Associate Minister of National Defence, Lib.)
  • Apr/29/24 5:18:23 p.m.
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Madam Speaker, I rise to speak to the urgent action in budget 2024 that would help Canada build the homes needed to restore fairness for every generation. Last week, our government released Canada's ambitious plan to build homes by the millions, to support renters and to lower the costs of home ownership so that no hard-working Canadians have to spend more than 30% of their incomes on housing costs. With budget 2024 and with Canada's housing plan, we are going to do what is necessary to put money on the table to build more affordable housing, to create the market conditions necessary to get more homes built and to change the way cities build homes. We will restore the promise of Canada for everyone, building more homes faster. We know that the higher interest rate environments have made it difficult to build homes. That is why we are proposing significant action in budget 2024 to boost housing supply and to remove barriers that often slow down construction of new homes. For example, we are reviving and modernizing Canada's post-war housing design catalogue, which will provide blueprints that can be used across the country to speed up construction of new homes. Budget 2024 proposes to allocate more than $11 million in 2024-25 to support the development of this catalogue for up to 50 housing designs, including row housing and fourplexes that provinces, territories and municipalities could use to simplify and to accelerate housing approvals and builds. This first phase of the catalogue will be published by fall 2024. Speaking of supporting municipalities, our $4 billion housing accelerator fund is already cutting red tape across the country with 179 agreements with municipalities, provinces and territories, including Surrey Centre, enabling the construction of over 750,000 new homes over the next decade. To continue this momentum, budget 2024 would top up this program with $400 million to build more homes faster from coast to coast to coast. Madam Speaker, I will be sharing my time with the member of Parliament for Whitby. To help developers get that capital, they need to build more rental homes. We are also topping up the apartment construction loan program, or ACLP, with $15 billion, starting next year. This proposed investment alone would build more than 30,000 additional homes across Canada, bringing the program's total contribution to over 131,000 new homes by 2031. This program has already been kick-started in Surrey Centre with thousands of homes already under construction. We know that there is no single player who could fill Canada's housing shortage on his or her own. That is why we need to take a team Canada approach to getting this work done for Canadians, and that means all of us working together and using every tool in our tool kit to get more homes built. To that end, budget 2024 announces Canada builds, which would help to leverage the apartment construction loan program so that we could better partner with provinces and territories to build more rental housing across the country. Truthfully, we could not do any of this without Canada's builders, carpenters, plumbers, electricians, construction workers and similar tradespeople. They are incredible people who love their jobs and who are good at them, and to whom we should all be grateful because we could not build homes without them. To help train and recruit the next generation of skilled workers, budget 2024 proposes to provide $90 million over two years for the apprenticeship service to help create placements with small and medium-sized enterprises for apprentices, and $10 million over two years is also being proposed for the skilled trades awareness and readiness program to encourage Canadians to explore and to prepare for careers in the skilled trades. In addition, budget 2024 proposes to provide $50 million over two years for the foreign credential recognition program, at least half of which would be used to streamline foreign credential recognition in the construction sector to help skilled trades workers build more homes. We need to do everything we can to make it easier to build homes more quickly and more cost effectively, and the measures I just outlined do exactly that. Young Canadians in my community of Surrey Centre, and across Canada, are struggling to find housing that fits their budgets. That is why the government launched the tax-free first home savings account and why, in budget 2024, we would take action to unlock additional pathways for young renters to become homeowners and to protect middle-class homeowners from rising mortgage payments. To help first-time homebuyers keep pace with rising costs, budget 2024 announces our intention to amend the Income Tax Act to increase the home buyers' plan withdrawal limit from $35,000 to $60,000. The budget also proposes to temporarily extend the grace period, during which homebuyers are not required to repay their home buyers' plan withdrawals to their RRSP by an additional three years. This first measure would enable first-time homebuyers to save up to $25,000 for their down payment, faster. For a couple who withdraws the maximum in 2023, extending the grace period could allow them to defer annual payments as large as $4,600 by an additional three years. Thanks to our new Canadian mortgage charter, more Canadians know about the fair, reasonable and timely mortgage relief they can seek and receive from their financial institutions. Budget 2024 would aim to enhance this charter by enabling first-time homebuyers purchasing new builds to get 30-year mortgage amortizations, among other enhancements. The government would bring forward regulatory amendments to implement this proposal. Additionally, budget 2024 proposes to call on banks, fintechs and credit bureaus to prioritize tools that would allow renters to opt in to reporting their rent payment histories to credit bureaus so that they could strengthen their credit scores when applying for a mortgage. We are also committed to protecting tenant rights and ensuring that renting a home is fair, open and transparent. For that reason, budget 2024 proposes action to protect the millions of Canadians who rent and who have been exceptionally impacted by recent drastic rent increases across the country. This action would include the development of a new Canadian renters' bill of rights to be developed and implemented in partnership with provinces and territories, a new $15-million tenant protection fund and a new $1.5-billion Canada rental protection fund that would help housing providers keep rents at a stable level for a long time. That is how one makes the playing field fairer for renters. Our government is also redoubling our efforts to build homes wherever and whenever possible in the face of Canada's housing crisis. We are accelerating and streamlining the process of converting surplus federal properties into housing, and we continue to work with Canada Lands Company to enable the construction of additional housing units. In fact, budget 2024 proposes $5 million over three years, starting in 2024-25, to support an overhaul of Canada Lands Company to expand its activities to build more homes on public lands. Budget 2024 also announces that the government would take steps to enable Canada Post to prioritize leasing or divestment of post office properties and lands with high potential for housing, where doing so maintains high service standards for Canadians. Lastly, as part of our work to build more homes on public lands, budget 2024 proposes to explore the redevelopment of National Defence properties in Halifax, Toronto and Victoria that could be suitable for both military and civilian uses. We are currently working to divest 14 surplus defence properties that have potential for housing and that are not needed for National Defence operations. Recognizing that we need better infrastructure to support an uptick in housing supply, our government has also revealed that the budget would feature a new $6-billion Canada housing infrastructure fund to help communities increase their housing supplies and to upgrade water, waste water, stormwater and solid waste infrastructure. Because many Canadians rely on public transit to go to school, to get to work and to see their friends, budget 2024 also announces that any community seeking to access long-term predictable funding through the federal government's forthcoming permanent public transit funding would be required to take action that directly unlocks housing supply where it is needed most. Our focus as a government is on building more homes at a pace and a scale not seen in generations and on restoring fairness and affordability for every generation. We did it when soldiers returned home from the Second World War, and we can build homes like that again. With this upcoming budget, we would make it easier for every Canadian, no matter who they are or where they come—
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