Money for northern housing, mining, clean energy among the 2022 budget highlights
CBC
The federal government is promising more money for affordable housing in the North, the critical minerals industry, the High Arctic Research Station in Nunavut and a clean-energy project for Yukon, in its latest budget tabled on Thursday.
Other budget highlights are not specifically targeted to the North but could benefit northern communities, including support for Indigenous tourism businesses, funding to monitor and fight wildfires and train firefighting personnel, and student loan forgiveness for doctors and nurses working in rural and remote communities.
Federal Finance Minister Chrystia Freeland tabled a relatively thin 280-page budget — 500 fewer pages than last year's document — that is much more focused on a few key areas than Liberal budgets of the recent past. The 2022-23 deficit projection is $52.8 billion — half of what it was last year.
Here are some of the highlights for the North.
The cost and availability of housing has become a central issue for many Canadians, and the budget puts the matter front-and-centre. Some analysts are referring to it as a "housing budget," as a third of all new spending in this budget — $10.1 billion — is directed at housing.
The government is promising $150 million over two years for affordable housing "and related infrastructure" in the North — $60 million each for the governments of Nunavut and the N.W.T., and $30 million for the government of Yukon.
"Canada's Northern communities face unique housing needs due to higher construction costs, shorter construction seasons, infrastructure gaps, and the effects of climate change that are increasing," the budget document reads.
The budget also specifies $565 million over five years to support housing in self-governing First Nations communities and $845 million over seven years to support housing in Inuit communities.
The Canada Mortgage and Housing Corporation will also receive $300 million over five years to co-develop and launch an urban, rural, and Northern Indigenous housing strategy.
The budget also includes many housing promises beyond just the North, including a crackdown on property speculators, an overall pledge to double the pace of new home construction in Canada, and a new tax-sheltered way for Canadians to save up to buy a home.
The budget also commits up to $1.5 billion over seven years to support the critical minerals industry in Canada. Critical minerals are those deemed essential to Canada's economic security and include northern resources such as copper, zinc, and rare earth elements, among others.
"Making these projects a less risky undertaking for companies will help grow both Canada's critical mineral industry and secure the good resource jobs of the future," the budget document states.
Funding will also go to Natural Resources Canada "to provide public access to integrated data sets to inform critical mineral exploration and development," and offering a new tax credit for some mineral exploration work.
At least $25 million will go toward "early engagement and Indigenous communities' capacity building to support their participation in the critical minerals strategy."
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