Auto thefts drop 19 percent nationwide
No Canadian should wake up to find that their means of getting to work, school or the grocery store has been stolen. We’ve already seen a 19 percent drop in auto thefts and are working hard to further reduce this. This includes providing frontline law enforcement with new scanners and intelligence sharing, implementing tougher criminal penalties to deter crime, and regulating devices commonly used to steal cars.
We’ve also increased security at Canadian railyards and ports, resulting in the interception of more than 1,900 stolen vehicles by the CBSA this year, already surpassing last year’s total. Of these, 620 vehicles were intercepted in the Greater Toronto Area and are being returned to their rightful owners. Our plan is working, and the federal government will continue to do whatever it takes to keep our communities safe.
Supporting Renters and Homeowners
We are taking concrete action to lower the cost of housing, from reforming the international student program to increasing new housing starts. Rent prices are starting to stabilize, and in some cities, they are declining, bringing much-needed relief after years of rising rents. Rental prices have fallen by 8.1 percent in Toronto, and we will continue to build on this.
To help homeowners with their mortgages, our government has paved the way for larger and continued interest rate cuts by the Bank of Canada and new mortgage reforms to deliver immediate relief:
- Helping over 750,000 Canadians save $40,000 for a down payment on their first home through the tax-free First Home Savings Account.
- Helping more Canadians qualify for a mortgage with a down payment below 20 percent, effective December 15.
- Lowering monthly mortgage payments by letting first-time homebuyers and buyers of new builds access 30-year mortgage amortizations, effective December 15.
- Letting Canadians switch mortgage lenders at renewal and shop for lower rates without doing another stress test, effective November 21.
Honouring our Soldiers, Past and Present
On Remembrance Day, we honour those who stood up in times of peril to defend Canada and its values. Whether at home or abroad, our soldiers serve with exemplary courage, dedication and integrity, embodying the spirit of resilience and sacrifice that defines our great nation. We honour them not only with our silence and gratitude but by upholding the very ideals of peace, freedom and democracy for which they so bravely fought. I join all of you in acknowledging a debt we can never repay. Lest we forget.
Federal Investments in Public Transit
A year ago, the federal government and the City of Toronto co-invested $700 million to purchase 340 battery-electric buses for the Toronto Transit Commission. I’m happy to report that the first few of these new buses have been delivered. Buses play a key role in the daily commute of many residents, and I look forward to seeing riders enjoy quieter, more comfortable, and cleaner commutes.
We’ve made record investments to connect people across Toronto, including $10.4 billion to build the Scarborough Subway Extension, the Eglinton Crosstown LRT, the Ontario Line, and the Yonge North Subway Extension. I will continue to fight for federal investments in local transit, including the Eglinton East LRT, which will link our community with stations at Malvern and the University of Toronto Scarborough.