National

Trudeau announces $600 million in loans, funding to jump-start homebuilding, rentals

Darpan News Desk The Canadian Press, 05 Apr, 2024 09:51 AM

The federal Liberal government plans a $600-million package of loans and funding to help make it easier and cheaper to build homes for owners and renters.

Prime Minister Justin Trudeau is making the announcement in Calgary, just the latest in a string of pre-budget announcements aimed at winning over younger voters.

We need more affordable housing right across the country, but affordable rental units are too often lost to the private market. So, we’re going to protect and preserve them, and work with partners to acquire even more.

Here’s how: pic.twitter.com/jM6QR6FV5X
— Justin Trudeau (@JustinTrudeau) April 5, 2024

Trudeau says $50 million will go toward a homebuilding technology and innovation fund, with another $50 million to modernize and expedite construction.

An additional $500 million worth of low-cost loans will foster projects with "innovative" construction techniques from prefabricated and modular housing manufacturers and other builders.

Finance Minister Chrystia Freeland will table the next federal budget April 16.

In Winnipeg on Thursday, Trudeau announced $1.5 billion to help non-profits acquire more rental units and ensure their affordability.

Prev Next

MORE National ARTICLES

Income gap between new immigrants and all Canadians shrunk by half in four years: PBO

A new report from the parliamentary budget officer finds the gap between the average incomes of new immigrants and all tax filers has narrowed significantly. The report finds the median income of new immigrants was about 78 per cent of the median income made by all tax filers in 2018, compared with 55 per cent in 2014.

Income gap between new immigrants and all Canadians shrunk by half in four years: PBO

Canada doesn't support 'premise' of South Africa's case against Israel at world court

Prime Minister Justin Trudeau says Canada supports the International Court of Justice but that doesn't mean Canada supports the premise of South Africa's genocide case against Israel. On Thursday, South Africa launched a case at the top United Nations court arguing Israel's bombardment of Gaza and its siege on the Palestinians who live there "are genocidal in character."

Canada doesn't support 'premise' of South Africa's case against Israel at world court

Extreme cold: -40C forecast in Edmonton as snow causes road havoc in Metro Vancouver

Extreme cold and biting wind has gripped Western Canada, breaking multiple decades-long daily temperature records in Alberta and British Columbia. Environment Canada says Edmonton's temperature is -36.6 C and forecast to hit -40 C tonight on one of the coldest days in half a century, after plummeting to -34.6 C on the coldest Jan. 11 since 1997.

Extreme cold: -40C forecast in Edmonton as snow causes road havoc in Metro Vancouver

BC gets 5 new Indigenous Justice Centres

Premier David Eby says five new Indigenous Justice Centres set up in B-C over the past year will help make the legal system work better for Indigenous people. Eby says a total of nine centres across the province will connect more people with culturally safe legal supports and services.

BC gets 5 new Indigenous Justice Centres

RCMP looking for erratic driver

The R-C-M-P say they are trying to find a 24-year-old man suspected of driving dangerously through Surrey’s streets during peak traffic hours. Police say officers conducted a traffic stop on a 2017 white Range Rover on September 7th for dangerous driving.

RCMP looking for erratic driver

Facebook lawsuit settling fee $51M

Meta is offering $51 million to settle a class-action lawsuit in four Canadian provinces over the use of some users' images in Facebook advertising. The legal action filed by a B.C. woman claimed her image and those of others were used without their knowledge in Facebook's "sponsored stories" advertising program, which is no longer in operation.