A closer look at the federal budget’s housing plan

Posted on April 29, 2022 in Delivery System

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Maytree.com – Policy brief
28/04/2022.   By Sam DiBellonia, Garima Talwar Kapoor

On April 7, 2022, the federal government released its 2022 Budget: A Plan to Grow Our Economy and Make Life More Affordable. A key piece of the government’s plan is to address the housing affordability crisis by providing over $10 billion in funding over five years through different programs and measures to increase the supply of housing.

This policy brief breaks down Budget 2022’s housing plan and suggests ways that the government can improve its plan to address the housing affordability challenges of those who are most in need.

Our analysis shows that:

To improve its approach to housing, we suggest that the federal government:

1.      Reaffirm its recognition of the right to adequate housing as a fundamental human right and use this principle to guide policy-making.

2.     Establish a cohesive housing policy narrative.  

This would involve:

3.       Examine demand-side solutions. 

The demand-side factors that are also driving up prices should be examined in parallel with supply-side factors, and solutions to address these issues should be part of the government’s overall strategy. This would involve urgently undertaking the review of housing as an asset class. 

4.       Consider other factors that can affect the implementation of more housing supply.

In a climate of labour shortages and rising construction costs, it will be important for the government to consider how quickly homes can be built, at what cost, and what other measures might help to ease implementation.

Download the policy brief


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