Mr. Speaker, the hon. member for Davenport frequently does ask questions of our government in regard to housing.
In fact on February 6, he suggested that the Minister of Finance's concern with household debt levels was inconsistent with statements by the Minister of Human Resources and Skills Development in support of home ownership.
I want to assure the House that no such inconsistency exists. Our approach is balanced and sound with the goal of ensuring that Canadians from all walks of life and all parts of the country have access to housing that meets their needs. Whether through rental housing or home ownership, the vast majority of Canadians are able to meet their housing needs in the marketplace. We recognize that this is not possible for all Canadians.
That is why we have policies in place to support the full range of housing options: home ownership for those who can afford it, rental housing for those who need or prefer this option, and housing assistance for those whose needs cannot be met in the marketplace, including low-income families, seniors, people with disabilities and first nations people on reserve.
In addition, our government, through CMHC, has invested an estimated $12.5 billion in federal housing assistance since 2006, investments that have improved living conditions for thousands of low-income Canadians and helped to build stronger communities from coast to coast to coast.
We continue to invest heavily in housing. This year, through CMHC, the Government of Canada will invest approximately $2 billion in housing. Of this amount, $1.7 billion will be spent in support of almost 615,000 households living in existing social housing. Because the hon. member asked specifically about Toronto, I would like to point out that an estimated 267,200 households in Ontario, living in existing social housing, receive this support.
In addition, communities across Ontario are also benefiting from the three year federal investment of more than $240 million provided under the investment in affordable housing funding that is aimed at reducing the number of Ontarians in housing need.
Our government is working hard to ensure that people in Toronto, in Ontario and in communities across the country have access to safe, suitable and affordable housing.