International

Canada – Deputy Prime Minister and Minister of Families, Children and Social Development host roundtable on housing affordability

June 16, 2021

Both the Deputy Prime Minister and Minister of Families, Children, and Social Development reaffirmed the federal government’s objective to keep life affordable and ensure all Canadians have a place to call home.

June 15, 2021 – Ottawa, Ontario – Department of Finance Canada

Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, and the Honourable Ahmed Hussen, Minister of Families, Children and Social Development, held a virtual roundtable with housing stakeholders and experts.

Both the Deputy Prime Minister and Minister of Families, Children and Social Development reaffirmed the federal government’s objective to keep life affordable and ensure all Canadians have a place to call home. They acknowledged that housing affordability is a key economic and social issue for Canada.

Participants spoke of the need to increase supply across the spectrum, from non-profit and co-op housing to market-based housing, for first-time buyers and especially for families. Participants remarked on the significance of the National Housing Strategy and the recent, additional investments made in the federal budget. Several participants mentioned the particular success of the Rapid Housing Initiative.

Participants spoke of the need to modernize regulations at all orders of government in order to support the expedient development of affordable housing and facilitate sustainable urban densification. Participants noted the importance of housing policy and investments addressing not just vulnerable populations but also middle class concerns around affordability. The importance of public transit in building healthy, accessible, and affordable communities was noted as well.

Participants raised concerns with housing speculation and the growing financialization of housing. The Deputy Prime Minister underscored the federal government’s intention to implement a tax on vacant or underused homes owned by foreign investors who don’t live in Canada.

Participants acknowledged the importance of all orders of government working together to increase housing affordability and supply so that all Canadians have a place to call home.