EDMONTON, AB, April 22,
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 Minister of Employment, Workforce Development and Official
Languages, Randy Boissonnault, spoke
to the Edmonton Chamber of
Commerce, where he highlighted Budget 2024's investments that help
ensure every generation of Canadians can reach their full
potential, including:
- Launching a bold strategy to unlock 3.87 million new homes
by 2031, which includes a minimum of 2 million net new homes on
top of the 1.87 million homes expected to be built anyway by 2031.
Of the 2 million net new homes, the government's actions would
support a minimum of 1.2 million net new homes.
- Providing a $400 million
top-up to the $4 billion Housing
Accelerator Fund, which is already fast-tracking the
construction of over 750,000 new homes over the next decade thanks
to 179 agreements with municipalities, provinces, and
territories.
- Accelerating the construction and upgrading of
housing-enabling infrastructure by providing $6 billion over 10 years through a new Canada
Housing Infrastructure Fund.
- Creating placements for apprentices with small and
medium sized businesses with a proposed $90
million over two years.
- Investing a proposed $10 million
over two years to encourage and prepare more Canadians for
careers in the skilled trades.
- Streamlining the Foreign Credential Recognition
Program with an investment of $50
million to help ensure everyone in Canada who has the skills needed to build more
homes can do so. The Program has already helped over 9,000 skilled
newcomers receive work placements, and another 20,000 workers
receive low-cost loans to minimize the cost of practicing their
trade in Canada. The federal
government is calling on provinces and territories to urgently
streamline their trades certification standards for interprovincial
consistency.
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.
Quotes
"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 about levelling the playing field for Canadians
and providing a fair chance to succeed for every generation. This
looks like boosting productivity, innovation and research to create
good-paying jobs for Canadians. A Canada that works for everyone requires
proactive action and innovation – and that is exactly what we have
delivered for Canadians through this Budget."
– The Honourable Randy Boissonnault, Minister of Employment,
Workforce Development and Official Languages
Related products
- Budget 2024: Fairness for Every Generation
- Budget 2024: Address by the Deputy Prime Minister and Minister
of Finance
- Budget 2024: Key Measures (available in non-official
languages)
- Backgrounder: Fairness for Younger Generations
- Backgrounder: Tax Fairness for Every Generation
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SOURCE Employment and Social Development Canada