Nov 22, 2023
By Jane Brown
The Trudeau Liberals’ Economic Statement highlights three key trends of interest to members of CARP – A New Vision of Aging.
In a statement to Zoomer Radio News, CARP’s Chief Operating and Chief Policy officer Bill VanGorder offers the following:
The changes to pension fund investments – could be good if smartly done. CARP will be watching closely.
The housing investments are a good start but we need to hear them say ‘including units for 55, 65, 75 plus’.
If effective,the cost of living reductions will be helpful to seniors who are being hard hit by junk fees, which are hidden, surprise fees that companies sneak onto customer bills. The possibility of more no fee bank accounts could be a good financial support to older Canadians.
Also, CARP is still looking for details on the proposed dental plan for older Canadians. Will it actually cover the kinds of dental care most required by seniors?
“All in all, the update indicated that the government is concerned with many of the financial security issues that concern Canadians, but the details are slim making it hard to assess on behalf of older Canadians,” says VanGorder.
In the update on Tuesday, Finance Minister Chrystia Freeland pledged up to $15-billion in new loan funding that could help build more than 30,000 additional rental housing units nationwide and earmarked an additional $1-billion over three years for a new affordable housing fund with a goal to build 7000 new homes by 2028. But the money won’t flow until 2025.