Brief by Shorts91 Newsdesk / 12:33pm on 17 Apr 2024,Wednesday International
Canada unveils plans to introduce halal mortgages for Muslims and implements a two-year ban on foreign investors purchasing residential property. Prime Minister Justin Trudeau aims to enhance homeownership opportunities, particularly for the Muslim community, through Sharia-compliant financing. The ban on foreign buyers, effective until 2027, seeks to address housing affordability and prevent speculation. The budget, presented by Finance Minister Chrystia Freeland, projects a $39.8 billion deficit for fiscal 2024-25. Tax fairness measures accompany new spending of $53 billion over five years, prioritizing support for renters and first-time homebuyers, especially Millennials and Generation Z.
