Canada Introduces New Measures To Tackle Housing Crisis: The Prime Minister of Canada, Justin Trudeau, announced new initiatives on 14 September 2023.
These new initiatives aimed to tackle the housing crisis and contain increasing grocery prices.
It also contains initiatives to increase the supply of rental accommodation, help small company proprietors, and decrease grocery prices.
Canada Introduces New Measures To Tackle Housing Crisis
According to the latest reports, Canada announced some measures for
- Housing crisis in Canada
- Plans to support small business owners
- Rising Grocery Prices
Housing Crisis In Canada
To continue lowering housing costs across the country, including for those who rent, the federal government will propose a bill to eliminate the Goods and Services Tax (GST) on new rental apartment buildings.
It will help encourage the construction of much-needed rental units. It is just another tool for creating the conditions for constructing the housing types we need, and the families want to live in.
It also encourages provinces that already impose the provincial share of the Harmonized Sales Tax (HST) or provincial sales taxes to match the federal government’s refund for new rental homes.
For local governments to be granted their Housing Accelerator Fund applications, they must eliminate exclusionary zoning laws and encourage the construction of apartments near public transportation.
Plans To Support Small Business Owners
The Prime Minister of Canada announced that the government will also take some initiatives to help small company owners and their workers.
The government is adjusting the Canada Emergency Business Account (CEBA) program for small businesses by providing a 1-year extension period for the term loan repayment.
This initiative was announced during the coronavirus pandemic to help small businesses stay alive.
Rising Grocery Prices
To tackle the increasing grocery prices, the Prime Minister said that the government had called all the heads of the top grocery chains in Canada for an urgent meeting in Ottawa to start discussions toward this goal.
Also, the Canadian government is encouraging these big grocery store chains to keep grocery prices steady in the short term.
The government is also exploring different options, such as tax measures, to bring back stability in grocery prices that Canadians anticipate.
Further, the government of Canada is also looking forward to taking some critical actions to boost the competition across the economy in Canada, with a main focus on the grocery sectors and decreasing costs for middle-class persons in Canada.
The government plans to make changes to the Competition Act. These changes include allowing the Competition Bureau to request materials to perform thorough market analyses.
The efficiencies defense will be abolished, which currently allows anti-competitive mergers to go unchallenged if the corporate benefits outweigh the harm to competition. It will prevent Canadian consumers from paying higher prices and having fewer choices.
Additionally, the Bureau can take action against alliances that restrict competition and customer choice, especially when large grocery stores prevent smaller competitors from opening nearby.
So, it is all about Canada Introduces New Measures To Tackle Housing Crisis.
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Source:- immigrationnewscanada.ca
