Trudeau, Freeland announce 'Canadian Renters' Bill of Rights' in BC

(UPDATE: March 27 @ 10:17 am): Prime Minister Justin Trudeau has announced the creation of a “Canadian Renters’ Bill of Rights.”

He said it would be part of the 2024 federal budget, which is due to be presented on April 16.

The prime minister also announced the launch of a $15 million "Tenant Protection Fund" that he said would give cash to legal aid organizations to better protect tenants against the likes of renovictions and rising rents.

The Renters' Bill of Rights would be developed with the provinces and territories, he said, and would force landlords to disclose a "clear history" of apartment pricing.

That would make it easier for renters to "bargain fairly," the prime minister explained.

A nationwide standard lease agreement would also be part of the program, Trudeau said.

He also said renters "deserve credit" for the rent they pay, adding that he intends to amend the Canadian Mortgage Charter and "call on landlords, banks, credit bureaus and fintech companies to make sure that rental history is taken into account in your credit score."

Answering questions after the announcement, Trudeau also pointed to increased numbers of migrants coming to Canada and adding to demand for housing. He said the surge – which has occurred during his premiership – has put "tremendous pressure" on housing.

StatCan said earlier today the country's population grew 3.2 per to 40,769,890 in 2023.

Trudeau said it was important to "[turn] the dial a little bit" on the number of temporary migrants, such as students, coming to Canada "to make sure that they are a number that can be properly absorbed by our housing stocks."

His finance minister, Chrystia Freeland, said Millennials and members of Generation Z had suffered particular unfairness in the housing market.

Owning a home, she said, was part of the “promise of Canada,” but is now increasingly out of reach for young people.

The duo spoke in Vancouver earlier this morning.

“Renters are facing rising rents across the country, and they need support today," Freeland told an audience of young families.

"Budget 2024 will take action to deliver generational fairness, help renters – who are increasingly younger Canadians – become homeowners, and ensure they aren’t alone when they have to defend their right to a place to call home."

She added: "Many younger Canadians had a tough introduction to their adult lives. Millennials coming of age in the early 2000s endured the chaos and challenge of the Great Recession. Many in Gen Z became adults during the COVID pandemic. Both generations have strived to pursue careers and start families in a time of high inflation, high interest rates, and high housing costs.

"Understandably, many younger Canadians feel as though the deck is stacked against them. Something doesn’t add up. It used to be that if you got a job and worked hard, your reward would be a good middle class life. That was the equation. Today, younger Canadians can get a good job, they can work hard, but too often the reward remains out of reach."

(Original story: March 27 @ 5:50 am): The most powerful people in the country will be in British Columbia this morning.

Prime Minister Justin Trudeau and Deputy Prime Minister and Finance Minister Chrystia Freeland are set to make a housing announcement in Vancouver later.

They will be joined by Harjit Sajjan, who holds numerous roles in the federal cabinet, including minister of emergency preparedness.

No specific information about the announcement has been revealed, but in a notice posted to the prime minister’s website it was explained that the event comes “in advance of the 2024 Federal Budget.”

This story will be updated throughout the day.

– With files from Canadian Press