Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

February 05, 2009 23:59 ET

Economic Action Plan supports Canada's social housing needs and creates jobs

OTTAWA, Feb. 5 - The Honourable Diane Finley, Minister of
Human Resources and Skills Development and Minister Responsible for Canada
Mortgage and Housing Corporation (CMHC) and Minister John Baird, Canada's
Minister of Infrastructure, Transportation and Communities and Member of
Parliament for Ottawa West - Nepean, highlighted key initiatives from Budget
2009: Canada's Economic Action Plan that will benefit many Canadians including
low-income seniors, persons with disabilities, First Nations and those in
Northern Canada.

"In a time of economic uncertainty, housing is of particular importance
to Canadians," said Minister Finley. "Strengthening the stock of social
housing will help vulnerable Canadians, while also creating jobs and
opportunities now for those in construction and other industries."

"This investment in social housing will help Canadians on fixed incomes
to live with independence and dignity and remain in their communities, close
to family and friends," said Minister Baird. "This initiative is also a good
way to get the economy moving because it puts construction workers and trades
people to work quickly as well as help those who make a living producing or
selling building and renovation materials."

Canada's Economic Action Plan provides $1 billion over the next two years
to address the need for renovation and energy retrofits to existing social
housing. Renovations will include general improvements and energy efficiency
upgrades. Canada's Economic Action Plan also provides for $400 million to
build more seniors housing, $75 million for new housing for persons with
disabilities, and $600 million for new housing and repairs to existing housing
on-reserve and in the North.

This builds on the Government's September 2008 announcement for $1.9
billion over five years for housing and homelessness programs for low-income

More information on these and other measures in Canada's Economic Action
Plan, a plan to stimulate the economy and protect those hit hardest by the
global recession, can be found at

Contact Information

  • Julie Vaux, Director of Communications, Office
    of the Minister of Human Resources and Skills Development, (819) 994-2482;
    Chris Day, Press Secretary, Office of Minister of Transport, Infrastructure
    and Communities,, (613) 991-0770