Removing barriers to build more homes, faster in Brampton, Ontario
Thank you everyone for being here for this announcement, which will help create more housing, faster, here in Brampton.
People across the country are struggling with the rising costs of housing, and in Brampton you're feeling it acutely. This is a community that is only getting bigger. In fact, Brampton is one of the fastest growing municipalities in Canada. You need more housing to keep up with the demand and you need it to be built faster and built in convenient, connected places.
Well, that's what our Housing Accelerator is all about and why I'm so excited to be announcing that we have reached an agreement with the City of Brampton. Today we're announcing that Brampton is the next city to receive significant funding from our Housing Accelerator, and we estimate that this will mean more than 24,000 new homes over the next decade, with 3,100 fast tracked to be built in the next three years alone.
As part of this plan, we’ll see houses built near transit stations like the nearby GO station near main streets and downtown, places that are convenient, places where people want to live. Places where people can have the very best quality of life.
Sean will be able to share more details with us in a moment, but I know he's working hard to reach other agreements like this one. This is the fifth agreement we've had with a major city since we launched the Housing Accelerator Fund, and I know there will be others across the country.
The cost of living is putting a lot of pressure on the middle class and people working hard to join it, which is why we've been making sure to deliver real relief. We're delivering support for families by bringing the cost of daycare down with it on track to reach $10 a day. And today, eligible families will receive their monthly Canada Child Benefit payments. This is hundreds of dollars tax month (sic) that makes a huge difference in the lives of millions of Canadians.
This important support increased just in July to keep up with inflation, which means this year a family could receive almost up to almost $7,500 a year tax free. We delivered the grocery rebate and we're working to bring relief at the checkout counter through both legislation and our conversations that are holding big grocers to account. We're tackling junk fees and taking action to reduce banking fees.
We've eliminated interest on Canada Student and Canada Apprenticeship Loans, and the benefits seniors receive each month are being increased to keep pace with inflation.
We know that the cost of housing is one of the biggest stresses each month, and after decades of inaction by previous governments, our government has been getting to work, investing in affordable housing and programs to help people through the National Housing Strategy, which helped build that project two years ago, the Tax Free First Homes savings account and more. We need more housing, more collaboration with great partners across orders of government, more investment from private, non-profit partners and of course, more shovels in the ground. We need to work together to build homes so people can build their lives, families and futures they want. We’ve faced big challenges as a country before, and we're ready to tackle them now. That's exactly what today is all about.
We're working with partners all over the country to ensure that Canada's promise is kept. The promise to improve the quality of life for every generation.
Canada is the best country in the world. Let's keep working to make it even better.
Thank you very much, my friends.