Toronto announces 10-year, multi-billion-dollar plan to address housing issues, homelessness

Click to play video: 'Toronto mayor pitches significant tax hike to fund transit and housing'
Toronto mayor pitches significant tax hike to fund transit and housing
WATCH ABOVE: Toronto Mayor John Tory is proposing a large tax hike over the next six years to help pay for transit and affordable housing. If adopted, the new tax increase will see homeowners paying much more. Matthew Bingley reports. – Dec 4, 2019

Toronto is launching a plan to address a shortage of both rental and social housing as well as homelessness.

The city says the 10-year proposal will help more than 341,000 households.

Mayor John Tory says the program will help support those who are struggling to pay the rent or keep a roof over their heads.

The project will cost $23.4 billion, with the city putting up $8.5 billion.

Tory is calling on the federal and provincial governments to step up and cover the remainder.

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He says ensuring residents have access to housing will benefit the city.

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