Over the past week, Ministers have highlighted how the government’s economic plan has delivered for Canadians, including by building 484 new rental homes in Toronto, 231 new affordable homes in Vancouver, and more than 780 new homes in Richmond Hill; modernizing competition in Canada to stabilize prices across the country; lowering energy bills in Victoria and Saanich and across Canada; and attracting billions in private investment to create good jobs in Alberta and Nova Scotia.
We are also introducing labour requirements to our Clean Technology, Clean Hydrogen, Clean Electricity, and Carbon Capture, Utilization, and Storage investment tax credits. These requirements are about ensuring that Canadian workers directly benefit from our investment tax credits by requiring businesses who take advantage of these credits to pay a prevailing union wage and to create apprenticeship opportunities if they want to receive the maximum level of benefit from these tax credits.
Today in Vancouver, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, visited 58 West Hastings, which in May 2024 will begin welcoming its first residents into 231 new affordable rental homes for vulnerable people and low-income families. As first announced by the Deputy Prime Minister on July 28, 2021, this project was made possible in part by $45.8 million in federal funding from the Affordable Housing Fund—a key part of the government’s economic plan to build more homes, faster.
Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced that Canada’s major investment tax credits are enabling Dow to build the world's first net-zero emissions ethylene cracker and derivatives site in Fort Saskatchewan, Alberta. She was joined by the Chair and CEO of Dow, Jim Fitterling, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, and the Honourable Randy Boissonnault, Minister of Employment, Workforce Development and Official Languages.
Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, tabled the Notice of Ways and Means Motion to introduce the Fall Economic Statement Implementation Act, 2023.
This legislation is part of our government’s economic plan, which is about building an economy that works for everyone—with good jobs that people can count on.
We’ll keep working—day after day, week after week, month after month, and year after year—to build the homes that Torontonians—and all Canadians—need, expect, and deserve.
Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, visited 94 Eastdale Avenue in Toronto, where 484 new rental homes are under construction thanks to the federal government’s economic plan and $215 million in financing through the Apartment Construction Loan Program.