Canada has implemented policies to make housing and groceries more affordable. A recent survey found that 83% of 1522 newcomers struggle with the rising cost of living, and over a third spend more than a third of their pre-tax income on rent. To address this, the federal government has announced new measures, including an additional CAD 99 million for the Canada Housing Benefit, bringing the total to CAD 325 million for 2023-2024. Other measures include the $4 billion Housing Accelerator Fund, the Canadian Mortgage Charter, and the Tax-Free Home Savings Account for first-time buyers. The Minister of Innovation, Science, and Industry has also pledged to research corporate practices affecting grocery prices, increasing funding for consumer affairs research on 'shrinkflation' and 'skimpflation.'
For deeper insights into Canada's current initiatives, explore our article discussing the growing demand for AI-talented professionals and its implications for Canada's workforce and economy “Rising Demand for AI-Talented Professionals in Canada”.
For deeper insights into Canada's current initiatives, explore our article discussing the growing demand for AI-talented professionals and its implications for Canada's workforce and economy “Rising Demand for AI-Talented Professionals in Canada”.