April 23, 2024 (Thunder Bay, Ontario) Employment and Social Development Canada
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 Minister of Families, Children and Social Development, Jenna Sudds, was in Thunder Bay, Ontario, to highlight Budget 2024's investments that contribute towards a fair future for Indigenous Peoples, including:
- Unlocking pathways to post-secondary education by investing nearly $243 million for the next generation of First Nations university, college, and post-secondary students, building on the $487.5 million over ten years invested in Inuit and Métis post-secondary education strategies through Budget 2019.
- Indigenous Loan Guarantee Program, which will offer up to $5 billion in loan guarantees to unlock access to capital for Indigenous communities, enabling them to share in the benefits of natural resource and energy projects in their territories and on their own terms.
- Indigenous Housing and Community Infrastructure investments of $918 million beyond the $5 billion already available for communities in 2024-25, to accelerate work to narrow housing and infrastructure gaps in First Nations, Inuit and Métis communities as follows:
- $426 million for First Nations on reserve;
- $62 million for Self-Governing and Modern Treaty First Nations;
- $370 million for Inuit communities; and,
- $60 million for Métis communities.
Budget 2024 is a plan to deliver fairness for every generation.
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. It 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.
With Budget 2024, the Government of Canada continues to support Indigenous reconciliation through the recognition of rights, respect, and partnerships. True reconciliation brings with it the opportunity for all people in Canada to know ourselves and our collective histories better.
