TORONTO, April 16, 2024 /CNW/ - Prosper Canada, a national charity dedicated to expanding economic opportunity for Canadians living in poverty, praised the Government of Canada's 2024 federal budget commitment to invest $60 million over the next 5 years to expand free, community-delivered, financial help services for struggling Canadians.
This investment will expand financial help services tailored to the needs of low- and modest-income Canadians to every region in Canada – helping over a million Canadians to tackle their affordability and money challenges and connecting them to approximately $2 billion in income benefits they are eligible for but not yet receiving.
"This investment is a direct and powerful response to the financial help needs of households hurt most by the affordability crisis," said Elizabeth Mulholland, CEO of Prosper Canada. "One in two Canadians with low and moderate incomes are in bad or terrible financial shape, and most of these are struggling to feed their households. These services will help them to tackle urgent affordability and money challenges and build a stronger, more secure financial future for themselves and their families," concluded Mulholland.
Community financial help services are a proven lifeline for vulnerable Canadians, many of whom are not able to access income benefits they are entitled to, income that can help them stabilize financially and rebuild their financial health – paying down debt, repairing their credit scores, and building emergency savings.
This investment will help to advance a key priority of Canada's National Financial Literacy Strategy – enhancing access to trustworthy and affordable financial help services, especially for vulnerable populations.
Prosper Canada is a national charity dedicated to expanding economic opportunity for Canadians living in poverty through program and policy innovation. Prosper Canada works with government, business, and community partners to develop and promote financial policies, programs and resources that remove barriers and help more Canadians to prosper. Learn more at www.prospercanada.org
Media contact: Wendy Abbott-Serroul, wabbottserroul@prospercanada.org, 416-993-6409