VICTORIA B.C. – Sonia Furstenau, Leader of the B.C. Green Party, announced the Party’s plan to support renters struggling with the affordability crisis.
“Despite some progress to cool the housing market, we need to do more to support people who rent their homes,” said Furstenau.
“B.C. renters are still facing sky-high rents and escalating cost of living. In BC, 43% of renter households - 250,000 people - pay more than 30% of their income in rent. This is having significant adverse effects on peoples’ mental health and wellbeing and makes it more difficult to save and plan for the future.
“Just like with the target of emissions reductions, which then require a clear action plan to achieve them, we need a clear action plan on housing affordability. The B.C. Greens’ goal is that by 2030, everyone has a home that they can afford and that meets their needs. To achieve, this we need a comprehensive suite of policies to deal with the housing affordability crisis for renters and those looking to buy a home, and will be releasing more commitments in the coming days.”
The B.C. Greens’ rental support program would:
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Target low and moderate income earners who are paying more than is affordable on their rent.
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Close the gap between affordable rent and what renters are actually paying.
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Be a means-tested grant that applies to low and moderate income earners who are paying more than 30% of their income in rent.
The B.C. Greens would earmark $500 million for this program to ensure that it can provide meaningful support to renters. The B.C. Greens’ program differs from the B.C. NDP’s $400 rental rebate because it is a means-tested support for low- and moderate-income households paying too much in rent.
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