Ministers Champagne, Bibeau, and Guilbeault highlight budget investments to support housing creation

TROIS-RIVIÈRES, QC, April 24, 2024 /CNW/ - The federal government recently delivered Budget 2024: Fairness for Every Generation. 

It is a plan to build a Canada that works better for everyone, where younger generations can get ahead, where their hard work pays off, and where they can buy a home?where everyone has a fair chance at a good middle-class life. 

Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry; the Honourable Marie-Claude Bibeau, Minister of National Revenue; and the Honourable Steven Guilbeault, Minister of Environment and Climate Change, were in Trois?Rivières, Quebec, to highlight Budget 2024 investments to support housing creation.

The ministers visited the Université du Québec à Trois-Rivières to talk about the building of more student housing made possible by Budget 2024, which relaxes the eligibility conditions for the removal of GST on new student residences for universities, public colleges, and not-for-profit school authorities.

Building more student housing is good for young people and makes sure there is a fair rental market for everyone; it also reduces pressure on existing housing in neighbouring communities.

The ministers also took the opportunity to talk to the mayor of Trois-Rivières, Jean Lamarche, about local economic development and how to speed up housing construction.

Lastly, the ministers took part in a lively discussion with students at the Université du Québec à Trois-Rivières and answered their questions.

First, the budget takes bold action to build more homes. Because the best way to make home prices more affordable is to increase supply?and quickly. The budget lays out a strategy to unlock 3.87 million new homes by 2031. Key measures include launching the new Public Lands for Homes Plan and Canada Rental Protection Fund, enhancing the Canadian Mortgage Charter, and creating a new Canadian Renters' Bill of Rights.

Second, it will help make life cost less. The budget builds on the government's transformative expansion of Canada's social safety net?$10-a-day child care, dental care for uninsured Canadians, the first phase of universal pharmacare?and advances the government's work to lower everyday costs for Canadians. This includes helping to stabilize the cost of groceries, cracking down on junk fees, and lowering the costs of banking. Budget 2024 also makes transformative new investments, including a National School Food Program and the Canada Disability Benefit.

Third, this year's budget will grow the economy in a way that's shared by all. The government's plan will increase investment, enhance productivity, and encourage innovation. It will create good-paying and meaningful jobs, keep Canada at the economic forefront, and deliver new support to empower more of our best entrepreneurs and innovators. This includes attracting more investment in the net-zero economy by expanding and delivering the major economic investment tax credits, securing Canada's advantage as a leader in artificial intelligence, and investing in enhanced research grants that will provide younger generations with good jobs and new opportunities. And it means ensuring Indigenous peoples share in this growth in a way that works for them.

Budget 2024 will also make Canada's tax system fairer by asking the wealthiest to pay a bit more?so that the government can invest in prosperity for every generation, and because it would be irresponsible and unfair to pass on more debt to the next generations. Budget 2024 is a responsible economic plan that upholds the fiscal objectives outlined in the 2023 Fall Economic Statement, and sees Canada maintain the lowest deficit- and net debt-to-GDP ratios in the G7.

"Our government first came to office with a vow to strengthen and expand the middle class. We delivered on that pledge by reducing poverty, especially for children and seniors, and creating millions of good jobs for Canadians. Our work isn't done. Budget 2024 renews our focus on unlocking the door to the middle class for millions of younger Canadians. We'll build more housing and help make life cost less. We will drive our economy toward growth that lifts everyone up. That is fairness for every generation."

? The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance

"Budget 2024 is planning significant investments to support the creation of housing, including student housing. These measures will have a positive impact on young people in Quebec by providing them with affordable housing opportunities and stimulating local economic development. We are committed to working together to secure a prosperous future for young people and for all Quebecers."

? The Honourable Steven Guilbeault, Minister of Environment and Climate Change

"Our government decided to take action and invest massively in housing in the recent budget to help young people, especially students who often have to study far from home. Today's announcement will support educational institutions like the Université du Québec à Trois-Rivières to build more housing for Mauricie students and those who come to our region to study. We are here for the people of the Mauricie."

? The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry

"Our government is taking concrete action to accelerate the construction of affordable housing across the country. Our plan to tackle the housing crisis targets young people in particular, whether they are renters or buyers, to help them find a comfortable home at a reasonable price. With Budget 2024, we're putting  in place the measures needed to reduce the cost of living and help them realize their dream of buying their first home."

? The Honourable Marie-Claude Bibeau, Minister of National Revenue 

"This morning's announcement by the federal government will have a significant impact on Trois-Rivières, especially for young people who choose to study here and plan to settle here after their studies. The new housing that will result will be a positive factor in attracting talent. As in many other regions, Trois-Rivières faces the challenges of the housing crisis on a daily basis, and this announced measure will also provide support to our contractors in the construction of new residential units. We can only welcome this news with enthusiasm."

? Jean Lamarche, Mayor of Trois-Rivières

"Access to affordable housing is not a privilege, it's a fundamental right. For students, this issue is even more crucial. Student residences are more than just homes. They are essential pillars of the academic success and the well-being of young talent. Imagine a Canada where every student, whether from the four corners of the globe or the neighbourhood next door, could find an affordable, welcoming home close to their campus. These havens of knowledge, scattered across the country's 70 to 100 university towns, would become magnets for the brightest talent, attracted by the promise of an environment conducive to success. They would forge unbreakable bonds among students, fostering the exchange of ideas and collaborative innovation. Far from being a mere cost, the investment is a catalyst for progress. By attracting brilliant students from all over the world, the Université du Québec à Trois-Rivières?and all universities in Quebec and Canada?will become even more dynamic poles of innovation and research."

? Adel Omar Dahmane, Acting Vice-President, Academic Affairs and Training, Université du Québec à Trois-Rivières

• Budget 2024: Fairness for Every Generation
• Budget 2024: Remarks by the Deputy Prime Minister and Minister of Finance
• Backgrounder: Key Measures
• Backgrounder: More Affordable Homes
• Backgrounder: A Stronger Social Safety Net
• Backgrounder: Fairness for Younger Generations
• Backgrounder: Economic Growth and Productivity
• Backgrounder: Growing Small Businesses
• Backgrounder: Safer, Healthier Communities
• Backgrounder: A Fair Future for Indigenous Peoples
• Backgrounder: Tax Fairness for Every Generation
• Budget 2024: Canada's Consumer-Driven Banking Framework

SOURCE Environment and Climate Change Canada