The federal government has heard the pleas from Victoria and other cities, and has confirmed it will put $11.2 billion into affordable housing over 10 years. It is one of several measures in Wednesday’s budget that could make a difference in B.C.
Frustrated with how long it was taking to get money into the hands of those who would build the housing, the government will try to speed up the process and leverage the money it provides. About $5 billion will be earmarked to encourage housing providers to pool their resources with private partners, and to allow the Canada Mortgage and Housing Corp. to provide more direct loans to cities.
Greater Victoria needs help in creating housing for low-income people. Rents in the region are among the highest in the country and the vacancy rate is among the lowest at 0.6 per cent.
The Liberals want provinces to put more money into municipal projects and want cities to consider using a planned $15-billion infrastructure bank for projects that could generate revenue, such as transit systems.
If transit improvements for Greater Victoria are a possibility, the region’s municipalities must put together a co-ordinated plan that will make sense to those who hold the purse strings. Piecemeal bids for money will only hurt us in the long term.
The region and the province must also take advantage of the federal government’s commitment to build the skills of Canadian workers.
“As we create the jobs of tomorrow, we will support a culture of lifelong learning and skills training to help workers and their families adapt to the changing demands of our time,” said Finance Minister Bill Morneau.
That should be music to the ears of Victoria and its growing tech sector. Morneau is setting aside $1.8 billion over six years to expand labour-market development agreements with the provinces and territories. These agreements help to finance a range of programs, including skills training.
Victoria’s tech sector has set the ambitious goal of doubling its combined annual revenue to $10 billion by 2030. It already counts more than 880 businesses with more than 15,000 direct employees. Another 3,000 consultants and 5,000 others work in tech jobs within larger firms and government.
Those businesses should take advantage of the federal government’s commitment to use its considerable buying power to boost companies that have potential. Ottawa spends $7 billion a year on basic goods and services, and it wants to direct more of that money to Canadian startups.
Attracting talented workers is always a major focus, so any initiative that brings challenging work and new revenues would build Victoria’s reputation as a technology leader.
Of course, workers in B.C.’s resource sector, where economic and technological change make the future uncertain, need more than rosy predictions about the wonders of the digital world to ensure bread is on the table. Many face unemployment with nowhere to sell their skills, so the government will help them train in new skills.
A pilot project will spend $287.2 million over three years to test how to make it easier for adults for qualify for Canada student loans and grants for mid-career education. Another $132.4 million over four years, beginning in 2018-19, will allow unemployed workers to pursue training while receiving employment insurance.
The Smart Cities Challenge Fund sounds tailor-made for Victoria. There’s $300 million on the table for cities to compete for in finding ways to use greener buildings, energy systems and better digital connections. But it’s most definitely a competition and it would require all Victoria’s leaders to work together.
That would be the challenge.
