Madam Speaker, I am very pleased to rise in the House today to represent the people of Châteauguay—Lacolle, soon to be Châteauguay—Les Jardins de Napierville.
Budget 2024, tabled on April 16, proposes a suite of measures to make life easier for all Canadians. It addresses the needs of today while looking to the future as well. That is why we are talking about fairness for every generation. We heard from and listened to citizens from across the country, and budget 2024 reflects the needs that they expressed. After listening to my constituents, I am very proud to say that this budget puts housing, health and inclusion front and centre. It proposes a Canada where young people can get ahead, where young families can find affordable housing, where seniors can age with dignity and where everyone can succeed.
One thing we urgently need is housing. The budget proposes an array of measures that will help build more homes. As we know, the best way to make home prices more affordable is to build more housing faster. We are reducing red tape, fast-tracking development, converting public lands to housing and using innovative techniques to build homes more efficiently. In other words, we are changing the way homes are built in Canada.
More than 1,700 post offices could be leveraged to build housing while maintaining Canada Post services, for example. We are making it easier for renters, especially millennials and gen Z, to buy a home. We will help them save for a down payment tax-free. We are giving renters credit for rental payments so they will have a better chance of qualifying for their first mortgage. We are protecting affordable housing while creating thousands of new units across Canada.
These measures are in addition to the FHSA program, which we announced last year and which has already enabled tens of thousands of young Canadians to begin saving for a down payment on their first home. This program allows participants to save up to $8,000 a year, which is tax-deductible. After five years, they can take the money out without having to pay tax on it. It is a fantastic program. I encourage all of the young people tuning in today to open an FHSA at a financial institution near them. The program will make a huge difference for young families who, until now, have been unable to purchase a first home because of difficulty raising the down payment.
Building more homes also requires building more water, waste water and stormwater infrastructure. We understand that building these new homes will create considerable additional costs for municipalities. Budget 2024 launches the new Canada housing infrastructure fund, which will provide $6 billion to Infrastructure Canada over 10 years starting in 2024-25 in order to accelerate the construction of this infrastructure. That is great news for our region.
Our commitment to fairness for every generation is also seen in our fight against homelessness. I am sure I am not giving members any news when I say that it is not a level playing field for everyone here in Canada. That is why Reaching Home, Canada's homelessness strategy, is a community-based program that is so important. It is aimed at preventing and reducing homelessness across Canada. This program provides funding to urban, indigenous, rural and remote communities to help them address their local homelessness needs.
Budget 2024 proposes to provide more than $1 billion in supplementary estimates over four years, starting in 2024-25. It also provides $250 million over two years to address the urgent issue of encampment and homelessness.
Reaching Home supports the goals of the national housing strategy, in particular to support the most vulnerable Canadians in maintaining safe, stable and affordable housing and to reduce chronic homelessness nationally by 50% by fiscal year 2027-28. That is equity.
We are making life cost less and strengthening Canada's social safety net for every generation. Ten-dollar-a-day child care, which we have had for a long time in Quebec, is already saving parents thousands of dollars a year and giving young Canadians the security they need to start a family of their own.
New programs like dental care and the national school food program will also help Canadians. By the way, just this morning, the Conservatives were talking about fifth graders. I wonder if they are prepared to say no to these children who go to school hungry in the morning. Perhaps we should ask them why they will be voting against our budget, which will enable these kids to eat well every day.
We are also very proud of our pharmacare program, especially for insulin and contraceptives, which will help Canadians save even more money. I recently had the opportunity to tour my riding and talk about the Canadian dental care plan, and I saw first-hand how badly this program is needed in our communities. People have signed up in droves. This program will make a difference for many seniors, people like our parents and grandparents, who often unintentionally neglect their oral health because they cannot afford to go to a dentist. People tend to underestimate the impact that poor oral health can have on overall health. This program will also ease the burden on emergency rooms, since many ER visits are related to oral health.
Scientific research has recently linked poor oral hygiene to certain health problems, including periodontal disease, gum disease, and diabetes, heart and respiratory diseases. These findings highlight the importance of good oral hygiene.
We are using innovation and fairness to grow the economy. We have a plan that will increase investment, enhance productivity, and encourage the kind of game-changing innovation that will create good jobs and keep Canada at the economic forefront. This includes expanding and implementing key economic investment tax credits to help build the green economy, cement Canada's position as a leader in the field of artificial intelligence and invest in improving enhanced research support. All of this is really important. We will help people enhance their life's potential while creating an economic environment that is full of opportunities for them. We need this young generation, there is no denying it.
I see that my time is nearly up. In closing, I would just mention one very important thing for farmers in my region. We have announced measures to help farmers by increasing the interest-free limit on loans under the advance payments program. I look forward to taking my colleagues' questions and discussing this at further length.
