Canada announces urgent decisions to Fight rising grocery prices

Ahmed Moawad - | World

The Canadian federal government has announced a new funding plan to address the situation caused by a sharp rise in supermarket costs in recent months.

Addressing rental affordability

The government has pledged $99 million in new funding to address rental affordability, as well as $5 million to combat rising food prices.

A comprehensive economic plan to address excessive pricing

During the press conference, Deputy Prime Minister and Finance Minister Chrystia Freeland, along with Canada's Minister of Innovation, Science and Industry François-Philippe Champagne, unveiled a Canada-wide economic plan to address excessive pricing through new financing.

The financing is particularly beneficial to Canadian citizens

The Canadian Prime Minister stated that the housing crisis is currently considered the most pressing issue in Canada, and that this funding is particularly beneficial to Canadian citizens burdened by excessive rental costs.

Helping low-income renters

The $99 million in funding aims to help low-income renters by providing direct rental subsidy payments to Canadians, and is allocated to the Canada Housing Benefit.

Providing greater shelter capacity for people facing homelessness

Freeland also announced the latest allocation of $100 million in winter emergency funds to help 85 communities provide greater shelter capacity for people facing homelessness.

Helping shelters increase their capacity

Stressing that this funding will help shelters increase their capacity and provide essential services such as temporary rental assistance and hot meals, which are essential during the cold winter months.

Addressing the issue of affordability of food and other essentials

The Canadian government intends to address the issue of affordability of food and other essentials by tripling annual funding to $5 million for the Canada Contributions Program for non-profit consumer and voluntary organizations.

Raising Canadian Housing Aid

These additional funds are expected to help bring Canada's housing assistance to $325 million between 2023 and 2024, with the aid distributed through provincial and territorial rental subsidy programs.

Providing resources to house low-income individuals

The program is expected to make housing affordable for more than 300,000 low-income families by 2027-2028, according to the federal government. This funding follows last week's announcement of $362.4 million in temporary housing assistance, which provides resources for communities to house asylum seekers. Low-income individuals.

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Ahmed Moawad
Ahmed Moawad
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