The federal government announced new funding of $99 million to address rental affordability and $5 million in annual spending to help investigate rising grocery prices.

At a press conference on Tuesday, Deputy Prime Minister and Finance Minister Chrystia Freeland and Minister of Innovation, Science and Industry François-Philippe Champagne announced the new spending as part of Canada's economic plan.

A press release about the announcement explained that the "increase" of $99 million for Canadian housing benefits will support low-income renters by "providing rent support payments directly to Canadians" and will open emergency shelters across the country."

The annual funding of $5 million triples Canada's commitment to the contribution program for nonprofit consumer and volunteer organizations. Champagne said on Tuesday that this will help create new projects in partnership with consumer advocacy groups to investigate price inflation and harmful business practices like "shrinkflation" and "minimal inflation" in grocery stores and "other forms of corporate greed" that have led to higher consumer prices.

The additional housing funds will raise the Canadian Housing Benefit to $325 million for 2023-24, and assistance will be distributed through rent support programs at the provincial and territorial levels. By 2027-2028, the program will have made rent affordable for more than 300,000 low-income families, according to the federal government.

This funding builds on last week's $362.4 million announcement for the Temporary Housing Assistance Program, which provides resources for communities to shelter vulnerable asylum seekers.

Freeland said in a press release: "Our government fights for Canadians every day, and our economic plan is building an economy for everyone." "Today, we are providing more rent support for low-income Canadians, offering more shelters for those in greatest need, and fighting corporate greed to provide lower prices for Canadians.