The 2016 Canadian Federal budget is out and here at Altus we're excited to see that many of our Canadian clients – specifically organizations in the arts and culture sector and in social housing – will receive an injection of funding.
As one of seven prioritized funding areas, Canada’s arts and culture institutions will receive hundreds of millions of dollars in additional funding to support programming, as well as much needed renovations and infrastructure improvements. The infusion of funds in the arts and culture space was described as a “game changer” by Simon Brault, director and CEO of the Canada Council. In an interview with CBC, he went on to explain that "It will give us the budget to adequately support artists with the resources they need, and direct money to priorities such as digital arts and aboriginal arts." The Canadian Council, which funds grassroots cultural initiatives across the country, will see its budget double over the next 5 years.
Canada’s national museums will be receiving an immediate injection of funds to address maintenance and infrastructure needs. A total of $33 million will be made immediately available to these institutions, with $105 million promised over the next 5 years.
The Liberal government has also committed $2.3 billion over 2 years to help increase Canadians' access to affordable housing. In large, the programming and initiatives funded will be determined at the provincial and municipal level. We are thrilled to see this much needed infusion of funding to social housing and look forward to finding out more about the initiatives this will initiate on a local level.
Want to know more? Check out CBC's article on the seven big initiatives of the 2016 Federal Budget here.