The government is moving ahead with something it floated on the campaign trail last year: a Tax-Free First Home Savings Account. The program has a maximum lifetime contribution limit of $40,000, and the government estimates the Tax-Free First Home Savings Account program will cost it about $725 million in tax revenue. WATCH | Buyers say they hope the budget will have help for them:First-time buyers say they need help Duration 0:38 Apoorva and Dnyanada Pande say they hope Thursday's federal budget includes help for prospective home buyers. WATCH | Canadians say housing affordability is a crisis:Housing affordability sparks anxiety among Canadians Duration 1:45 Ahead of the federal budget, people in Toronto and Vancouver spoke with CBC News about Canada's housing crisis. The federal budget unveiled the government's plans to tackle housing affordability, including a temporary ban on foreign buyers and a new tax-sheltered savings account.

Source: CBC News April 08, 2022 15:22 UTC