Question Period Note: 2023 Fall Economic Statement

What gender, diversity and inclusion considerations are included in the 2023 Fall Economic Statement (FES)?

•The 2023 Fall Economic Statement demonstrates the Government of Canada’s ongoing commitment to ensure gender, diversity and inclusion are considered in government policies, programs and services so that they better capture the lived experiences of all Canadians.
•Actions to address key priorities, such as housing, affordability, and the green economy, include consideration for the unique and disproportionate challenges faced by women, 2SLGBTQI+ people, Indigenous, Black and racialized people, youth, seniors, and persons with disabilities.
•The FES included initiatives such as $1B over 3 years for the Affordable Housing Plan, which will support the most at-risk Canadians, including women and children fleeing violence.
•The FES also underscores how important Early Learning and Child Care is in supporting a record number of working-age women in the labour force.
•Looking ahead, gender, diversity and inclusion will remain a core focus for the Government of Canada in building a Canada that benefits everyone.

Investment
The 2023 Fall Economic Statement announces key investments, including:

Housing
•$1 billion over three years, starting in 2025-26, for the Affordable Housing Fund. This will support non-profit, co-op, and public housing providers to build more than 7,000 new homes by 2028.
•Removing the GST from New Co-op Rental Housing, which has already allowed builders to commit to more rental apartment construction such as student housing, and seniors’ residences.
•$309.3 million in new funding for the Co-operative Housing Development Program, which was committed to in Budget 2022, to support those experiencing housing affordability challenges.
•Continuing the Urban, Rural, and Northern Indigenous Housing Strategy will benefit Indigenous persons with disabilities, women and girls, and 2SLGBTQI+ people who are at particular risk of violence when experiencing homelessness and housing insecurity.

Affordability
•The Canada-wide system of affordable Early Learning and Child Care is highlighted as a transformative economic policy with positive impact on women’s employment and on affordability. Already, six provinces and territories (Québec, Manitoba, Saskatchewan, Newfoundland and Labrador, Yukon, and Nunavut) have delivered $10-a-day or less child care, and the rest have reduced fees by at least 50% and are on track to reaching an average of $10-a-day by March 2026.
•Enhancing Low-and No-Cost Bank Accounts, which will particularly benefit lower-income Canadians, who more often tend to be single-parent women, Black or racialized, recent immigrants, or Indigenous.

Green Economy
•Helping More Households Make the Switch to Electric Heat Pumps - to help fight climate change, which will particularly benefit women, Indigenous people, and those living in coastal communities.

BACKGROUND:
•On Tuesday, November 21, 2023, the Finance Minister Chrystia Freeland tabled the federal government’s fall economic statement (FES), updating Canadians on the country's financial health and introducing new measures to target the housing crisis. The FES focuses on housing, affordability, and the green economy.
•Annex 4 provides a Statement on Gender, Diversity, and Inclusion. Following the introduction of the Canadian Gender Budgeting Act in 2018, reporting on gender and diversity impacts has been an important requirement for all new budget decisions, which helps to build a Canada that works for and benefits everyone.
•The Statement highlights the importance of gender and diversity considerations, outlines how key investments support diverse groups.

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