Madam Speaker, my NDP colleagues question our policies to fight poverty and lament that in their opinion, our government is not addressing Canada's housing crisis, nor is it tackling the issue of poverty adequately.
Here are some facts. Since taking office in 2015, our government has invested more than $5.7 billion in housing, more than any government in history and more than what the NDP was proposing to spend over four years in its 2015 platform.
Canada's first-ever national housing strategy is a 10-year, $40-billion plan to give more Canadians a safe, affordable, accessible place to call home. We are implementing this long-term strategy because our housing partners across Canada have told us that they need stable, long-term funding that allows them to plan, manage and repair housing. Building houses is a long-term strategy. We need money for both capital and operating expenses. Hence, we have a three-pronged, logical approach to addressing the housing crisis. Our approach not only provides stable funding but will help with the repair of housing stock and in some instances provide support to help Canadians pay their rent or mortgages.
Our investments to date have helped nearly one million households get access to safe and affordable housing. We recognize that there is more work to be done. That is why our government continues to work with our partners in provinces, territories and municipalities, with our indigenous partners, and with private not-for-profit sector organizations to build stronger, more inclusive communities across Canada.
The practical impact of our strategy in my riding of Don Valley East has been unprecedented repairs to 68 townhouse buildings managed by Toronto Community Housing as well as repairs to seniors buildings. This allows individuals to live in dignity.
We have also created the national housing co-investment fund in the amount of $13.2 billion. The national housing co-investment fund is expected to create up to 60,000 new homes and repair up to 240,000 units of existing affordable and community housing.
The co-investment fund is helping some in my riding of Don Valley East retrofit and make their buildings more efficient. This fund was accessed by residents of two of my buildings who were left holding the bag when the Conservatives cut the green Ontario fund. Schools and apartment buildings in my riding were being climate smart and retrofitting their buildings to be more energy efficient. However, through the cancellation of the green Ontario fund by the Conservative government in Ontario, they were left high and dry. The co-investment fund has helped them complete their retrofitting.
Mayors of municipalities have told us that the co-investment fund is an excellent way to help them, as the previous conservative government downloaded social housing to them without adequate funding. I am shocked that the NDP believes that repaired and renewed housing does not count as housing. Mayors such as Vancouver's Kennedy Stewart and Toronto's John Tory, not to mention city councillors from across the country, have told us that reinvesting in renewing and repairing housing is an essential part of meeting the housing needs of Canadians.
With an aging population, there is a high demand for affordable housing for seniors. Seniors in my riding have told me that they would like to stay at home. Helping seniors stay at home and contribute to their communities is a top priority for this government. The co-investment fund will create 7,000 new affordable housing units for seniors. It will provide much-needed support for renovations to allow seniors to age in their places of residence.
As part of the co-investment fund, we have invested $3.75 billion in rental construction financing and $208.3 million affordable housing innovation fund. These collective initiatives have given municipalities $17.2 billion to help build more affordable housing.
Our government believes that every Canadian has a right to access adequate housing. Therefore, it will introduce legislation that promotes a human rights-based approach to housing and will ensure that the strategy is here to stay and grow.
A federal housing advocate will be appointed to enable Canadians to raise issues or barriers they may face in accessing adequate housing.
These new initiatives will help Canadians find an affordable, secure and stable place to call home.
We have heard the debate about homelessness. Homelessness is a reality for too many Canadians and a challenge for every Canadian community. When someone is forced to live on the streets, we are all diminished.
Through reaching home, which is our redesigned homelessness strategy, we are working with other levels of government, NGOs, indigenous partners and communities across Canada to provide more stable housing to people living in homelessness. As well, we are increasing support for vulnerable groups. Together with our ambitious investments in the national housing strategy, we are committed to reducing chronic homelessness by 50% across Canada.
We understand that many Canadians are having a hard time finding affordable housing in places with high real estate prices. Strong economic and population growth, together with low mortgage rates, have been important drivers of higher house prices in Canada, but the supply response has been weak. Our government, through the national housing strategy, is also taking steps to improve supply and affordability in high-priced housing markets to ensure that the goal of home ownership continues.
Unlike the previous government, which focused on 1% of the population, our strategy has been to focus on all Canadians. With a booming economy, we need to ensure that everyone benefits from prosperity.
Our government understands that we have a lot of work to do to eradicate poverty. Every measure counts. Hence our measures like the national housing strategy, which has benefited many residence building in my riding, the Canada child benefit, which has lifted 17,000 children in my riding out of poverty, the enhancements to CPP and OAS, which has helped 16,000 seniors in my riding, as well as our cuts to taxes for the middle class, which has helped nine out of 10 Canadians, is a logical approach to eliminating poverty.
Poverty will not go away on its own. We need to act and create economic opportunities to really effect change. In other words, we need to act, and that is what this government is doing and will keep doing.
Canada's first-ever poverty reduction strategy is built on the vision that all Canadians should be able to live in dignity and represents a whole-of-society approach to tackling poverty.
