Affordable housing, homelessness and the upcoming federal budget

I’ve written a ‘top 10’ overview of things to know about affordable housing and homelessness, as they relate to Canada’s upcoming federal budget. The overview is based on the affordable housing and homelessness chapter in the just-released Alternative Federal Budget.

A link to the ‘top 10’ overview is here.

One comment

  • Thank you again for your concise and informative overview.

    I was shocked, shocked, shocked to discover that the federal government just found $82 billion for the first bailout package (and apparently more is coming for the oil and gas sector).

    I guess housing will have to wait now that the cupboard is again bare (as it was before the bailout).

    How the Bank of Canada Creates Money for the Federal Government: Operational and Legal Aspects
    Penny Becklumb,Mathieu Frigon, Economics, Resources and International Affairs Division, Library of Parliament
    10 August 2015

    https://lop.parl.ca/sites/PublicWebsite/default/en_CA/ResearchPublications/201551E

    “By recording new and equal amounts on the asset and liability sides of its balance sheet, the Bank of Canada creates money through a few keystrokes. The federal government can spend the newly created bank deposits in the Canadian economy if it wishes.”

    ***

    “…..there is no external limit to the total amount of money that the Bank of Canada may create for the federal government.”

    ***
    “The Bank of Canada’s money creation for the Government of Canada is an internal government process. This means that external factors, such as financial markets dysfunction, cannot cause the federal government to run out of money.”

    ______________________________
    Modern Monetary Theory in Canada

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