I am encouraged that Budget 2022 – “A Plan To Grow Our Economy And Make Life More Affordable” – recognized the need to change the focus from pandemic funding to a positioning of future opportunities and the very real challenges we face nationally and globally. Against the backdrop of the pandemic, global inflation, housing affordability and Putin’s vile war on Ukraine, our nation faces challenges that collectively we have not witnessed in our lifetime.
The measures in Budget 2022 will continue our support for Ukraine. These include:
Offering up to $1 billion in new loans via the International Monetary Fund (IMF);
providing an additional $500 million in further military aid and legislating the ability to cause the forfeiture and disposal of assets held by sanctioned individuals. We stand with the brave people of Ukraine who have demonstrated remarkable courage and resolve to protect their freedom and way of life.
I am also encouraged by the recognition that we will maintain a fiscally responsible approach to economic growth, upholding the government’s fiscal anchor – a declining debt-to-GDP ratio. Ensuring Canadians have good jobs, careers to take pride in is at the heart of building long-term prosperity. Building on our historic investments in early learning and child care will strengthen our work force and provide the opportunity for women to have a career and success as a parent. Investments in the green transformation will lead the way in putting Canada at the forefront of an emerging revolution in how we live in harmony with our planet. All while creating the economic opportunities of the future for Canadians. From a new Canada Growth Fund to the first Critical Minerals Strategy, Budget 2022 seizes on the opportunity to create thousands of good jobs innovation and investment.
Budget 2022 also recognizes the need to tackle housing affordability in a meaningful way. It recognizes that as Canada grows so do the needs of Canadians to have a safe and affordable place to call home. Budget 2022 takes significant steps that will build more homes and make housing more affordable across the country. This includes Launching a new $4 billion Housing Accelerator Fund to support and incentivize municipalities to build more homes faster; steps to develop a Home Buyers’ Bill of Rights and bring forward a national plan to end blind bidding; and banning foreign buyers from owning non-recreational residential property for two years.
From plans to introduce a national dental care program to individual green economy incentives to recognizing the need to increase productivity, Budget 2022 is a fiscally prudent, people inspiring document that lays the foundation for a prosperous, inclusive future.