The federal government unveiled its highly-anticipated spring budget on Thursday, with a focus on trying to make life more affordable for Canadians while attempting to rein in pandemic-level spending.
to launch a new Housing Accelerator Fund
To help Canadians purchase their first home, the government is introducing a new Tax-Free First Home Savings Account to be able to set aside up to $40,000 as early as 2023. The budget estimates this proposal would cost $725 million. The budget also announces an extension of the First-Time Home Buyer Incentive, which acts as a shared-equity mortgage with the federal government, to March 31, 2025.
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