The non-stop deluge of pre-budget announcements by the federal government has largely focused on housing needs across the country.
In what is expected to be a predominantly housing-related funding budget, April 16 serves to highlight the federal government’s goals and priorities, particularly when it comes to the construction of new homes.
A common theme in the pre-budget announcements is a carrot and stick approach, the federal government is also ramping up the already contentious relationship between the feds and many provinces.
The federal government’s message is: if you want federal dollars, you need to follow its rules, guidelines and expectations and not expect a blank cheque to be dropped off at your door.
While provinces have said it’s an overstep, with Alberta housing minister Jason Nixon declaring Alberta won’t be bribed with federal money, it’s a continuing step of both the federal and many provincial governments putting a caveat on funding.
Regardless of which provinces and to a certain extent municipalities buy-in, billions will be flying out the door to address housing needs.
An extra $15 billion will be pumped into the Apartment Construction Loan Program to push development of rental units after it received $15 billion at the last fall economic statement.
The $4 billion nationwide Housing Accelerator Fund had similar stipulations of municipalities needing to achieve benchmarks and its $400 million top-up will have the same conditions.
Of that, $1 billion will be immediately available and the remaining $5 billion will go to provinces that agree to a series of requirements such as changes to the National Building Code to promote more environmentally-friendly and affordable housing.
In addition to high-priced housing announcements, a $1.5 billion Rental Protection Fund and a renter’s bill of rights for a national standard lease agreement.
As with any budget, it’s not the number of photo ops or declarations that it’ll be remembered for but what it delivers.
