The massive funding cuts and erosion of national housing programs in the 1990s continues to fuel a Canada-wide crisis in affordable and adequate housing. That’s the policy finding in the housing chapter of the 2014 Alternative Federal Budget (AFB), released February 5 by the Canadian Centre for Policy Alternatives. The AFB calls for the federal government to reverse the erosion of funding for existing housing by reinvesting federal housing investments that are expiring. It also calls for new investments in affordable housing, with the funding to be matched by the provincial and territorial governments.
The AFB housing chapter was written by the Wellesley Institute’s Director of Housing and Innovation, Michael Shapcott, and reviewed by independent experts.
From the Alternative Federal Budget in Brief on Affordable Housing and Homelessness:
“The AFB will increase the federal investment in affordable housing and homelessness to $2 billion annually, with this amount to be matched by the provinces and territories. The new funding will be shared among the three major housing and homelessness initiatives — the National Homelessness Partnering Strategy, the Investment in Affordable Housing funding, and funding for existing social housing. (Cost: $2 billion per year)”
Follow the link to see the full Alternative Federal Budget.