CHECK AGAINST DELIVERY

Good morning.

I will first provide an update on our new Tax-Free First Home Savings Account.

I will then pass it to Minister Fraser, who will speak about how we are supporting co-op housing providers to build more homes, faster, for Canadians.

Minister Sudds will then provide an update on our Canada-wide system of affordable early learning and child care.

And finally, Minister Valdez will speak about important progress we are making to bring down costs for small businesses in Canada.

Earlier this year, our government introduced the new Tax-Free First Home Savings Account.

The Tax-Free First Home Savings Account allows Canadians to contribute up to $40,000 towards the purchase of their first home.

Like an RRSP, contributions are tax deductible, and like a TFSA, withdrawals to purchase a first home—including investment income—are non-taxable. It is tax-free in, and tax-free out.

For Canadians saving for their first home, the Tax-Free First Home Savings Account can—and is—making a real difference.

That is why today, I am delighted to announce that more than 300,000 Canadians have opened a Tax-Free First Home Savings Account.

That is 300,000 Canadians who are one step closer to getting those first keys of their own.

I know that housing is the priority for millions of Canadians today.

And that is why a central focus of our economic plan is housing: building more homes, faster; making it easier for Canadians to buy a home; and supporting Canadians who rent or own their home.

Through our Fall Economic Statement, our government has continued to take real, concrete action to tackle the housing challenge that is top-of-mind for so many Canadians.

That includes through the new Canadian Mortgage Charter.

The Canadian Mortgage Charter details the tailored mortgage relief that Canadians can expect from their banks if they are in a challenging financial situation.

That is because our goal is to protect Canadians—by making sure they have the support they need to afford their mortgages and keep their homes if they are struggling to renew at a time of higher interest rates.

So, whether it is helping Canadians save for their first home, or protecting Canadians who are struggling with their mortgage payments, or getting more homes built, faster, across the country, our government is going to continue working every single day to deliver for Canadians and make housing more affordable for people from coast to coast to coast.

Thank you very much.