[homeles_ot-l] Estimates show sharp drop in investments in national housing and homelessness programs

[Lynne Browne]

With the federal budget release this week, you may wish to review the
disturbing information below courtesy of Michael Shapcott.

 

Lynne Browne

The latest federal spending estimates
<http://www.tbs-sct.gc.ca/est-pre/20112012/me-bpd/docs/me-bpd-eng.pdf>
for the coming fiscal year show a sharp drop in investments in national
housing and homelessness programs - confirming a trend over the past two
decades of steady erosion in federal support for affordable housing and
homelessness initiatives (as noted in the Wellesley Institute's
Precarious Housing in Canada 2010
<http://wellesleyinstitute.com/news/affordable-housing-news/new-report-p
recarious-housing-in-canada-2010/> report). 

*      The latest spending estimates from the federal Treasury Board
report that overall spending at Canada Mortgage and Housing Corporation
(CMHC - the federal government's national housing agency) will be cut
from $3.1 billion in fiscal 2010 to $1.9 billion in fiscal 2011 - down
by 39% (see page 175 of the estimates). 



*      Funding for Canada's national homelessness plan is to be cut by
11% from $124 million to $110 million, and funding for national
homelessness research will be cut by 70% from $2.5 million to $750,000
(page 178).
 

*      CMHC's corporate forecasts
<http://www.cmhc-schl.gc.ca/en/corp/about/anrecopl/upload/chapter-v-reso
urce-requirements.pdf>  also confirm major cuts: The federal affordable
housing initiative is slated to be cut to zero by 2014, the overall
number of subsidized homes will drop by 50,200 by 2014, and the number
of homes renovated under national programs will be cut by 96% from 2010
to 2014 (with only 745 home repairs in all of Canada scheduled for that
year). The sharp cuts to housing and homelessness spending come at the
same time that CMHC is reporting that its net income will more than
double from $911m in 2010 to $2b in 2014.

-          Michael 

***

 

Michael Shapcott | Director, Affordable Housing and Social Innovation |
Wellesley Institute 

45 Charles St E, Suite 101                    Tel: 416.972.1010 ext 231
Toronto, ON, Canada,  M4Y 1S2           Mobile: 416.605.8316  
E-mail:   michael at wellesleyinstitute.com

 

www.wellesleyinstitute.com

rigorous research. pragmatic policy solutions. social innovation.
community action.

 

 

 

 

Lynne Browne

Coordinator, Alliance to End Homelessness 

613-241-7913 ext. 205

lbrowne at ysb.on.ca <mailto:lbrowne at ysb.on.ca> 

147 Besserer St., Ottawa, ON K1N 6A7

www.endhomelessnessottawa.ca <http://www.endhomelessnessottawa.ca> 

NOW ATEH is on FACEBOOK HERE
<http://www.facebook.com/home.php?#!/pages/Alliance-to-End-Homelessness-
Ottawa/136029386442398?v=wall&ref=ts>  &

on TWITTER HERE @endhomelessOTT <https://twitter.com/endhomelessOTT> 

 

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