Mr. Speaker, I am pleased to be able to speak today about Bill C-400, An Act to ensure secure, adequate, accessible and affordable housing for Canadians.
A disturbing trend has been developing in Toronto and every city in Canada. Young people, parents and especially those living on the margins are all too familiar with it: affordable housing is becoming less and less accessible for many Canadians.
As a Torontonian, I am in a good position to know that a national housing strategy is vital to the future of our city. We have known for a long time that it will require more than goodwill to address the issues of homelessness and the lack of affordable housing. These are fundamental economic problems that are harming our country's economy.
Housing problems put an enormous amount of pressure on our cities, where the drivers of innovation, productivity and growth for the 21st century must be developed.
I was born in Toronto, and with my husband we raised our three sons in that city. I have seen first-hand the impact of rising costs of housing on families in Parkdale—High Park, the riding I represent, and in neighbourhoods across our city. Torontonians know well that our city's waiting list for affordable housing continues to grow. A year ago, that list reached an all-time high, with over 80,000 households on the waiting list. While a small number of those were able to find housing, many are left waiting, and not just for months; some are waiting for years, and some even decades. We simply cannot afford to ignore this problem any longer.
I recently received a letter from a constituent named Theresa, who urged me to support the bill. In her letter, she wrote that the right to housing is a core Canadian value that is centred on dignity, security and equality. She is absolutely right, and I thank Theresa for her concern and for taking the time to write.
Clearly, Canadians in Parkdale—High Park and neighbourhoods across Canada are watching us and they want us to act.
Given that Canada's household debt recently reached a critical level, we must now recognize that guaranteeing Canadians access to safe and affordable housing is not only one of the best ways to combat inequalities, but it is also vital to the health of our national economy.
Many international organizations, including the International Monetary Fund, have warned our government about a steadily growing level of household debt, but our government does not seem to want to listen. The Bank of Canada and the IMF have said that the level of household debt in Canada is too high. It has reached 158%, which is unprecedented.
Household debt is the result of many economic factors, but it is important to recognize that housing constitutes a large part of every Canadian household's budget. Canada has a household debt level of 158%, but we know that mortgages make up 68% of that debt.
Bill C-400, An Act to ensure secure, adequate, accessible and affordable housing for Canadians, is a call to action. This bill calls on the government to do what it too often forgets to do: take initiative.
We are not asking for a new department, a new commissioner or even a new report. We are simply asking the government to be aware of what families across Canada are experiencing and to take initiative instead of shirking its responsibilities.
Bill C-400 asks the government to partner with provinces, cities, aboriginal communities, and with the private and non-profit housing sectors, to create a national housing strategy.
Why is Canada the only G8 country in the world that has failed to do so? Why is Canada falling so far behind?
We know that inequality is on the rise in Canada and when we look at the tremendous impact that access to secure, affordable housing has on social mobility and opportunity and the general economic vitality of cities like Toronto, it is clear that housing is not only an enormous challenge but also a very promising opportunity for economic leadership. When we see these factors come together, including all-time high levels of household debt, rising housing costs and growing inequality, it is easy to see that this combination will threaten the long-term economic prosperity of our country.
For each dollar spent on housing there is $1.40 increase in GDP. If we are committed to ensuring long-term prosperity for generations to come, then we must get serious about a national housing strategy.
Looking back to the 1990s there is an alarming pattern of neglect of affordable housing. In 1993 the Liberal government cut permanent funding for new affordable housing. By 1996 it had downloaded the responsibility to provinces, leaving Canada virtually alone among the high performing economies of the world without a national social housing program. Then some provinces, like my own province of Ontario, were quite happy to download social housing to the cities with no resources to be able to support it.
It is unfortunate that the Conservative government, like the Liberals, has continued to neglect this key area of social policy. For instance, under the Conservative government, funding for the affordable housing initiative will be reduced from $582 million in 2012 to zero by 2015. By 2016 consolidated federal housing investments will have been cut to $1.8 billion, a cut of 52% in just six years.
These cuts and the absence of a housing strategy affect diverse groups in our community, from young people trying to get a head start to our seniors who hope to retire in peace and security. Each group is impacted by what the government has failed to do, which is to take leadership on affordable housing.
The last census found that 42% of young Canadians continue to live with their parents. For many this is due to the high cost of housing or the challenges of finding a job in today's economy. A survey conducted last year found that in my home province of Ontario, the number of seniors on housing waiting lists has risen steadily since 2004, reaching nearly 40,000 households, or one-quarter of all waiting households at the end of 2011.
Recent changes to EI will also have an impact on many Canadians' ability to afford housing, particularly at a time when funding for many housing programs is being phased out. With a loss of EI benefits, more households will be at risk of falling into core housing need.
As finance critic, I recognize that investing in our cities and taking leadership on affordable housing is a smart choice for our national economy. As a Torontonian and the member of Parliament for Parkdale—High Park, I know from personal experience that this is an area of urgent concern to our community. I urge all members of the House to lend their support to Bill C-400, an act to ensure secure, adequate, accessible and affordable housing for Canadians. This initiative is long overdue.