Montrealers react to new federal budget
Posted April 16, 2024 9:11 pm.
Last Updated April 16, 2024 11:51 pm.
Finance Minister Chrystia Freeland’s newest budget aims to appeal to young Canadians. The government is projecting $53 billion in new spending over the next five years, with higher capital gains taxes on high-earners and businesses, in an effort to promote generational fairness and to address the housing crisis.
“I live with my parents. I’ve been asked to be with a few people in a shared home. I said ‘no’ because it was too expensive,” said one young Montrealer who CityNews spoke to.
“For example, a triplex here, it’s over $600,000. It’s not normal. Like a few years ago it was like probably like 400, 300. So if you’re trying to buy or to live in general, I’d say outside of Montreal is a bit better.”
In an effort to help young renters and first-time home buyers, the new budget includes an investment in new programs and housing supply by converting unused government buildings into residential homes. Still, many say it’s not enough.
“Unfortunately, I’m not a homeowner because I can’t afford to be one. Mortgage rates are impossible and unattainable right now,” said a Montrealer.
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Another saying, “My wife and I work at McGill and we are not from here, obviously. We thought Montreal was still an affordable place in North America and maybe this is the case, but it’s getting harder and harder to buy, especially if you want to buy on the island,” said another Montreal pedestrian.
Adding, “I think especially for people who have lower income than us and they would need all the government help that they could get.”
Catherine Lussier, a coordinator for Quebec’s Popular Action Front for Urban Redevelopment (FRAPRU), says solving the housing crisis will require investing in social housing in the public sector as well.
“There is a lot of investment that is going towards the private sectors from the budget and not towards the low and more vulnerable tenants specifically, that are actually right now at the moment having difficulties to have a decent way or a different place to live,” said Lussier.
“Even though there have been some, we would like to see more from the federal government going forward.”
