JOHN Aldag, MP for Cloverdale–Langley City, noted that on November 21, Chrystia Freeland, Deputy Prime Minister and Minister of Finance, released the government’s economic plan to build a strong economy that works for everyone as part of the 2023 Fall Economic Statement.
He said that over a million more Canadians are employed today compared to before the pandemic. Inflation is coming down, wage increases are outpacing inflation, and private-sector economists now expect Canada to avoid the recession that many had predicted.
In the face of a rapid global increase in interest rates, many Canadians are feeling the squeeze, particularly when it comes to affording a home to rent or own. In response, the 2023 Fall Economic Statement is focused on today’s two key challenges.
Aldag noted that first, the Government is continuing to support Canadians at a time when some prices are still too high and mortgage renewals are looming. With new, targeted measures to help stabilize prices, make life more affordable, and protect Canadians with mortgages, the Government is taking concrete action to support Canadians. This includes ensuring Canadians have access to the tailored mortgage relief they need at a time of higher interest rates. To do so, the 2023 Fall Economic Statement announces the new Canadian Mortgage Charter, which details the relief that Canadians can expect from their banks if they are in financial difficulty.
Second, the Government is accelerating its work to build more homes faster and make housing more affordable. Building on the significant action the Government has already taken, the 2023 Fall Economic Statement includes new financing to build more homes, takes steps to crack down on short-term rentals so that homes can be used for Canadians to live in, and will help to increase the number of construction workers across the country.

Aldag said that with these measures, we’re continuing our work to lead a national effort to make housing more affordable across Canada.
He added: “Our government’s economic plan is centred on the promise of Canada: that if you work hard, you can share in the remarkable possibilities of our remarkable country – with a good career that pays you well and with a home you can afford. As Member of Parliament, it is my job to see this promise delivered to the residents of Cloverdale–Langley City. I will continue doing everything I can to deliver for our community.”