With financial uncertainty and shifting political landscapes, all levels of government are tightening budgets in response to economic challenges. On March 4, the BC government released Budget 2025, reaffirming its commitment to housing. But are these investments enough to meet the growing needs of our community?
Budget 2025 includes an expansion of the BC Builds program, which supports the building of new rental homes for middle-income earners. The Budget also expands the availability of rent supplements for low- and moderate-income seniors and families by raising the income thresholds for rental assistance.
While these steps are positive, Housing Squamish had hoped to see more funding for the Rental Protection Fund, which helps organizations like ours purchase existing rental units and preserve them as affordable units. Without this support, accessing the equity needed to acquire and preserve these homes becomes much more challenging.
Other crucial programs, like the Community Housing Fund, which supports the building of affordable rental home for both low and moderate income people, and funding for supportive and transitional housing, remain intact, with indications that they will be sustained through 2028. Now we are in the midst of a federal election, we will continue advocating for stronger affordable housing supports through our local federal candidates.