44th Parl. 1st Sess.
November 23, 2023 10:00AM
- Nov/23/23 12:15:19 p.m.
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Madam Speaker, I am really glad to see the governing party so keen to move forward with this measure to address the housing crisis. At the same time, we just had a fall economic statement with no new funds for the rapid housing initiative and no new action to address the financialization of housing.
For example, the Liberals could have removed the tax exemption that real estate investment trusts are benefiting from every day and put those funds toward building the affordable housing we need.
Why are the Liberals so selectively keen to move ahead on housing policy?
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- Nov/23/23 1:42:22 p.m.
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Madam Speaker, I am always happy to talk about housing.
Earlier, I asked my Conservative colleague a question about the financialization of housing and the growing number of large investment funds buying up housing in Canada. This is a huge problem. We know that, for every affordable housing unit built in Canada, we lose 10 to the private market because those units are being bought up by big investors.
The Bloc Québécois wanted the economic update to include an acquisition fund to take affordable housing off the private market and keep it affordable for the long term. That is what non-profit housing organizations across Canada want, too. The goal would be to shelter the $600, $800 and $850 units that are still on the market. The government could buy them and take them off the market. Everyone agrees that this would be a solution.
Does my colleague agree?
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- Nov/23/23 2:59:46 p.m.
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Mr. Speaker, I thank my colleague for giving me another opportunity to point out that Canada now ranks third in the world when it comes to attracting foreign investment. Not only are we securing record investments in the automotive industry, we also have investments in mining, biomanufacturing, aluminum and steel.
One thing should be perfectly clear: We have a plan for prosperity. We have a plan for Canada. We have a plan for growth.
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- Nov/23/23 7:06:56 p.m.
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Madam Speaker, Canadians are being divided, and when they are hurting, they get divided even more. When one starts picking winners and losers, it gets even worse.
The government just spent $30 billion on two companies for electric batteries. It is probably $35 billion from what we are hearing now. It does not mean we should or should not do it, but that is $30 billion. Let us make sure that investment is going to happen, that it is done in such a way that Canadians are going to benefit from it. We do not know, as we cannot see the agreement. Canadians do not know what is in it. It is hidden. Why is it hidden? Maybe there is a reason to have foreign jobs. Maybe they are training the trainer and things like that; I could live with that, but I do not know. The government should show the agreement to us and to Canadians so they understand. It has spent a lot of money at a time when Canadians do not have a lot of money. It has tried to build the next sector of industry with huge government subsidization. Did it try to create a competitive environment here in Canada so businesses want to be here? Did it want to take advantage of the natural advantages we have in Canada: our diverse population, our multiple languages and the abilities we have? Those are the things it has to look at.
If we look at the Canadian GDP per person, since 2017, it stagnated and now it has dropped. Basically, our standard of living compared to that in other parts of the world is going down. When we compare it to that of the U.S., ours has dropped 2.5%, and the Americans' has been rising 5.5% this last year. If we look at the graphs, theirs is going up and ours is going sideways and down. The government has to change that. If it continues, our families are going to get into worse problems.
Canada is at a crossroads right now. Canadians are hurting. They are in pain. The government has done nothing to relieve that pain and has shown no compassion or empathy in regard to that.
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- Nov/23/23 7:46:00 p.m.
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Mr. Speaker, my colleague makes it easy to see why this is the only way forward and the only way to create more housing across the country. We have to work with partners, including cities, the provinces, co‑operatives and organizations. This affects everyone, and that is why partnerships at the federal level and investment in our communities make things better.
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- Nov/23/23 11:10:18 p.m.
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Mr. Speaker, this is a really important question.
We know that, right now, what we are seeing across the country and, sadly, what we have seen the government participate in is giving money to corporations that are building housing and basing it on market or above-market value. That means we are just continuing to see housing built that is not going to make a difference for everyday Canadians. The financialization of housing is taking away everyday, common people's rights in this country. We need to do better. Part of that is having non-market housing. I want to thank the member for Vancouver East, who has been very clear on this. If we do not have an investment in housing that makes a difference for people, we are letting them down.
This country does not need that. The government is abandoning people who are living on the streets every day. All of the members of this place have a safe place to go home to at the end of the day, and it is shameful that we allow other people to not have a safe place. What it does to their spirits destabilizes our country, and we need to do better by them.
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