My question to either of the members, from Don Valley East or West, is around the unprecedented size of the contingency budget that is included in the fall economic statement. It’s now at $5 billion. Typically a government would put aside about a billion in contingency.

Is the member concerned about the size of the contingency, and why do they think the government is going in this direction?

I will do that, Speaker. I do feel that—I listened to half an hour of remarks by the Minister of Economic Development and Trade who positioned this bill very much as an economic development tool, and so I am just reminding the government that there are important issues that have to be addressed if we are to be serious about economic development in this province and ensuring that people are able to take advantage of all of the potential new jobs that are going to be generated by this bill. Sustaining a child care workforce is fundamental to that work.

Another issue that is very much tied to economic development is ensuring that people can find affordable places to live if they are to take advantage of all of these new jobs that are potentially going to be generated by this mega-site that will be formed by this bill. In London, and similarly in St. Thomas—although I don’t have the data right at my fingertips. London is experiencing an intense housing affordability crisis, much worse than anywhere else in Ontario and most of Canada. Rents in London have doubled and have become beyond unaffordable for at least 60% of the residents who live in the city of London.

Affordability, of course, is measured by how much of a person’s income rent represents. So if you’re paying more than 30% of your income on rent, then that rent is not considered affordable for you given all of the other costs that you have to make in a year.

A London household needs to make $59,000 a year or more to keep shelter costs below 30% of their income, but only 40% of London households make at least that much. So we have 60% of households in the city of London that are paying more than they should on rent if they were to meet that affordability threshold.

The CMHC, the Canada Mortgage and Housing Corp., that recently released the report on housing affordability in London noted that it is particularly acute in London compared to the rest of the country. We have a 1.7% vacancy rate, which is the second-lowest level since 2001. Homes are hard to find; in particular, affordable homes, and that is what the NDP has consistently pointed out to this government. The huge missing piece of the government’s housing plan is that there is nothing there to support affordable housing, deeply affordable housing, supportive housing—all of those housing options that are so desperately needed in our communities.

We also, in London, have been having a homelessness crisis, and once again, homelessness—the desperation of people who are experiencing homelessness—is not good for economic development in the city. As merchants in downtown London will tell you, that has been very challenging for them, and particularly since the pandemic. In London, we have lost more than 200 residents of our community who were experiencing homelessness and who have died over the last couple of years. Currently, there are an estimated 2,200 people experiencing homelessness in our city. That actually brought the city together in a series of summits. More than 60 social service agencies, business owners, municipal officials, a wide diversity of individuals and organizations came together over the course of three summits to develop a made-in-London housing and homelessness plan.

One of the things that the city of London has called for in its pre-budget submission to the government is support to enable the city to move forward with that health and homeless system transformation. Fortunately, our community has a philanthropist who came to the table with $25 million—