BC Green Party promises $500 million to support renters

BC Green Party Leader Sonia Furstenau says that if elected, her party will commit $500 million to support low-income renters in the province.

“BC renters are still facing sky-high rents and escalating cost of living. This is having significant adverse effects on people’s mental health and well-being and makes it more difficult to save and plan for the future,” said Furstenau during the announcement this weekend. “Despite some progress to cool the housing market, we need to do more to support people who rent their homes.”

In making the announcement, Furstenau said part of her goal is that “by 2030, everyone has a home that they can afford and that meets their needs.”

To accomplish this, she said, the Greens rental program grant would do the following:

• Target low- and moderate-income earners who are paying more than is affordable on their rent.
• “Close the gap” between affordable rent and what renters are actually paying.
• Be a means-tested grant that applies to low- and moderate-income earners who are paying more than 30% of their income in rent.

Furstenau noted this program differs from the NDP’s $40 rental rebate “because it is a means-tested support for low- and moderate-income households paying too much” in rent.

• See also:
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“Just like with the target of emissions reductions, which then require a clear action plan to achieve them, we need a clear action plan on housing affordability,” said Furstenau. “To achieve this, we need a comprehensive suite of policies to deal with the housing affordability crisis for renters and those looking to buy a home, and will be releasing more commitments in the coming days.”

British Columbians head to the polls on October 24.