Today, as part of Canada's economic plan, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the federal government is taking new action to deliver rent support to low-income renters, open more emergency shelter spaces in cities across the country, and crack down on corporate greed to make groceries more affordable.
First, the Deputy Prime Minister announced a $99 million national top-up to the Canada Housing Benefit, which helps to make rent more affordable by delivering rent support payments directly to Canadians. This top-up brings the federal government's contribution through the Canada Housing Benefit to $325 million in 2023-24, which will flow directly to low-income renters through provincial and territorial rent support programs. By 2027-28, the Canada Housing Benefit will have helped to make rent more affordable for over 300,000 low-income households.
Second, the Deputy Prime Minister highlighted the federal government is providing $100 million in emergency winter funding to enable 85 communities across the country to provide more shelter spaces for people experiencing homelessness. As announced in December, this investment through Reaching Home will help shelters to expand their spaces, offer temporary rental assistance, and provide more warming spaces and meals to those who need it most.
These announcements build on last week's $362.4 million national top-up to the Interim Housing Assistance Program (IHAP), which is providing communities across the country with the resources needed to shelter vulnerable asylum seekers, who come to Canada for protection from violence, war, and persecution.
To help make groceries and other essentials more affordable, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, has tripled federal funding for Canada's Contributions Program for Non-profit Consumer and Voluntary Organizations to $5 million per year. Today, Minister Champagne is announcing new projects, in partnership with consumer advocacy groups, to investigate and reveal price inflation and harmful business practices, such as shrinkflation and skimpflation in the grocery sector, as well as other forms of corporate greed that have increased the prices Canadians pay for everyday goods.
Today's actions to make life more affordable and support those who need it most are just a few examples of how the federal government is fighting for Canadians everyday, as it delivers its economic plan to build an economy that works for everyone.
