The federal government has announced millions of dollars in new funding to address rent affordability in Canada.

As part of the economic plan, Deputy Prime Minister and Finance Minister Chrystia Freeland revealed the government's new actions to deliver rent support to low-income renters.

In a press conference on Tuesday morning, she announced a $99 million national top-up to the Canada Housing Benefit, which is supposed to make rent more affordable by giving rent support payments directly to Canadians.

As part of our economic plan, today we are:

✅delivering more rent support to low-income Canadians,
✅providing more shelter spaces to those who need it most, and
✅taking more action to make groceries more affordable.

Read more: https://t.co/UzzDDfHcA6

— Chrystia Freeland (@cafreeland) February 6, 2024

"Our government is fighting for Canadians every day — and our economic plan is building an economy that works for everyone," stated Freeland in a press release.

"Today, we are delivering more rent support to low-income Canadians, providing more shelter spaces to those who need it most, and fighting corporate greed to deliver lower prices for Canadians."

This top-up to the Canada Housing Benefit brings Ottawa's contribution to $325 million in 2023 to 2024, according to the news release. This money will flow directly to low-income renters through provincial and territorial support programs.

The government says that by 2027 to 2028, the Canada Housing Benefit will have helped to make rent more affordable for over 300,000 low-income households.

In addition, Innovation and Science Minister François-Philippe Champagne has tripled federal funding to investigate Canada's soaring grocery prices to $5 million a year.

Champagne announced new projects, in partnership with consumer advocacy groups, to investigate and reveal price inflation and harmful business practices.

This includes shrinkflation and skimpflation in the grocery sector, as well as other forms of corporate greed that have increased the prices Canadians pay for everyday goods, says the news release.

"Consumer advocacy organizations are key to protecting consumer rights. With today's announcement, we are supporting organizations that will provide insight on harmful practices, with the goal to provide Canadians with tools to access high quality and affordable food," stated Champagne.

"By developing better consumer advocacy and research, we will hold the grocers and manufacturers more accountable and deliver for Canadians."

The slate of announcements also included $100 million in emergency winter funding to help 85 communities across the country to provide more shelter spaces for people experiencing homelessness.

This will help shelters expand their spaces, offer temporary rental assistance, and provide more warming spaces and meals to those who need them most.