In last week’s federal budget, New Democrats used their power to make big banks and other financial institutions pay a little bit more of their fair share after making record profits. New Democrats are calling for these measures to be extended to big box stores and big oil companies making record profits so that the money can be reinvested in solutions that make life more affordable for you and your family.
“When the cost of food, housing and gas for your cars goes up faster than workers’ wages, it’s like getting a hefty pay cut — it’s not fair,” said Blaikie. “Rich CEOs are lining their pockets on the backs of struggling Canadians. It doesn’t have to be this way. Instead of maintaining a rigged system that benefits the wealthiest, we need to fix it by making sure those at the top pay their fair share. By doing so, we can invest more in healthcare, build affordable homes, and create good jobs that help fight the climate crisis 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.
