MEDIA RELEASE: Merger will mean more profits for huge banks, less options for Canadians

City TV: Concerns raised about rising cost of rentals for low-income earners: Vancouver MP

A Vancouver NDP MP is sounding the alarm when it comes to rent-geared-to-income housing units, saying incoming changes by the federal government will lead to a severe shortage within the affordable housing market in this country.

Vancouver East MP Jenny Kwan says she’s learned that as of March 31, 2028, Ottawa will be cutting subsidy funding to non-profits that operate buildings that include units for those on a fixed income. Once those suites are vacated, she says the price of those units will be bumped to market rates.

For example, a rental suite that’s going for $650 right now could be increased to $1,800 or more.

Kwan adds these changes are happening right now at some buildings in Metro Vancouver as non-profits try to bank money to prepare for their funding to be slashed in the future.

 

Open Letter: Loss of Thousands Rent Geared to Income Subsided Units

Recently non-profits have been advised an Amending Agreement for some of those projects would come into effect on June 29, 2024, whereby Rent-Geared-Income (RGI) units will need to revert to market rent as soon as turnover of the existing tenant occurs as the subsidies for those units will not be renewed beyond 2028. It further stipulates that this conversion will be permanent. What this means is that Canada will permanently lose thousands of RGI units for low-income residents. This is in addition to the loss of 370,000 affordable units under the Liberal government’s watch and another 800,000 units under the Conservative’s watch.

 

This poses a significant risk to thousands of Canadians, especially Indigenous communities which are already overrepresented in homelessness and housing need. The non-market housing sector plays a crucial role in communities across Canada, offering not just shelter but stability, security, and a sense of community for its residents. Canada is already faced with a housing crisis. It is widely recognized that for every affordable housing unit built, 11 will be lost. Without the continuation of these subsidies, homelessness will be further exacerbated.

 

Canadian Press: RCMP still probing alleged meddling in federal elections

The hearings are part of the inquiry's examination of possible meddling by China, India, Russia and others in the 2019 and 2021 federal elections.

Deputy RCMP commissioner Mark Flynn provided few other details about the ongoing probes, but indicated to reporters that some of the leads emerged through individuals “speaking about their own experiences very publicly,” including in the House of Commons.

Former Conservative leader Erin O'Toole, Conservative MP Michael Chong and New Democrat MP Jenny Kwan have all been identified publicly as possible targets of foreign interference by China.

In a classified February interview with the inquiry, Duheme said the RCMP did not open any foreign interference-related criminal investigations during the last two general elections.