Thank you, Mr. Speaker.

Housing Affordability

Committee supports the changes in policy and processes made to the Transitional Rent Supplement Program, or the TRSP, to create greater accessibility for those renting in the private market. In Yellowknife and Inuvik, where most private market rentals are located, many renters experience challenges with affordable housing as a result of the high rent and shelter costs. In 2016, CMHC's Market Rental Report states Yellowknife has the highest rent in Canada. In 2020, results from the Energy Hub on energy rates across Canada also report that Northwest Territories residents are paying the most for electricity in Canada, contributing to the high cost of living in the territory. Recently, CMHC has reported on the potential for a new affordability measure. The current affordability measure, known as the 30 percent shelter cost-to-income ratio, or STIR, is a similar metric used to calculate the NWT subsidy rate under the TRSP. The Housing as a Hardship measure considers both housing and non-housing expenses when assessing affordability and is more sensitive to family size and location than the commonly used 30 percent standard. Committee recognizes COVID has brought many social issues front and centre, including the lack of housing and housing affordability in the NWT. As the GNWT begins the Emerging Wisely process, committee is interested in resilient action from government to ensure residents struggling with housing affordability issues are stabilized and for residents who do not have housing to receive financial support to access healthy affordable housing.

Recommendation 3

Standing Committee on Social Development recommends the NWTHC retain the policy changes made to the TRSP during the pandemic and to continue to improve access and affordability within private market housing until such a time that the Canadian Housing Benefit is operational.

Mr. Speaker, I'd like to turn the reading of the report over to the Member for Inuvik Twin Lakes. Thank you.