Canada has implemented policies to increase the affordability of housing and groceries. According to a recent poll by Leger, 83% of 1522 newcomers in Canada are facing challenges due to the rising cost of living. Similarly, Statistics Canada has found that more than a third of newcomers spend over a third of their income before taxes on rent. To tackle this issue, the federal government has introduced new affordability measures. This includes allocating an extra CAD 99 million to the Canada Housing Benefit (CHB) to assist low-income renters, bringing the total to CAD 325 million for the 2023-2024 fiscal year. Other measures include the creation of the $4 billion Housing Accelerator Fund to increase housing production, the implementation of the Canadian Mortgage Charter to provide mortgage relief, and the establishment of the Tax-Free Home Savings Account, enabling first-time buyers to save CAD 40,000 tax-free for a down payment. Additionally, the Minister of Innovation, Science, and Industry has announced research into corporate practices affecting grocery prices, with funding for consumer affairs research on 'shrinkflation' and 'skimpflation' tripled.

For a more profound understanding of Canada's current initiatives, we invite you to explore our article delving into the surging demand for AI-talented professionals and its far-reaching implications for the nation's workforce and economic landscape, titled “AI-Skilled Workers are highly welcomed in Canada”.