There was no federal budget in 2020 due to the pandemic, so the upcoming budget will be the first in two years. As home prices continue to rise, there may be tax incentives that could benefit renters, investors and seniors without further contributing to higher prices.
The Teranet-National Bank National Composite House Price Index rose by 9.6 per cent in January over the previous year. Meanwhile, the federal unemployment rate was 9.4 per cent, compared to just 5.6 per cent in January 2020, with an increase of more than 762,000 unemployed Canadians.