House of Commons Debate
Oral Questions December 8th, 2022 / 3:10 p.m.
Jenny Kwan Vancouver East, BC
Mr. Speaker, yesterday, the Bank of Canada's interest rate was hiked yet again. Interest rates have already fuelled the high cost of rent, and this will just make it worse. Canadians are now facing a nearly 12% rent hike. In Vancouver, a one-bedroom apartment costs over $2,576, more than a 17% increase from last year.
The NDP has always said that the $500 housing benefit is not enough. Will the government help renters by expanding and extending the housing benefit?
Ahmed Hussen Minister of Housing and Diversity and Inclusion
Mr. Speaker, unfortunately, the hon. member has not stated all the facts.
The fact of the matter is that we are the government that introduced the Canada housing benefit, which is already delivering an average of $2,500 to vulnerable renters across the country, and it is active in all 10 provinces and three territories. The $500 top-up that the hon. member is mentioning is on top of that $2,500 average payment. On top of that, we are moving ahead with the rapid housing initiative, the national housing co-investment fund and more supports for vulnerable renters.