As the 2024 budget approaches, our government is announcing transformative measures that will help get more Canadians into homes they can afford. Over the past week new, affordable housing initiatives have included:

1. The Canada Rental Protection Fund will safeguard affordable housing and create thousands of new affordable apartments. This initiative will protect renters and ensure housing remains accessible to the most vulnerable.
2. $15 billion to expand the Construction Loan Program which is set to construct a minimum of 30,000 new apartments. We are also introducing reforms to streamline access to financing, extending loan terms, and fast-tracking applications for proven home builders.
3. The launch of Canada Builds, an initiative that will partner with provinces and territories to ramp up rental housing construction nationwide, leveraging a $55 billion Apartment Construction Loan Program to support ambitious housing plans across the country.
4. The Tenant Protection Fund will ensure that a good rental payment history is used to improve the credit scores of renters across Canada.
5. An additional $400 million to the Housing Accelerator Fund.

These measures are laying a framework for a budget that will create an equitable housing market for all Canadians.