Ottawa plans $1.7-billion boost in housing transfers to provinces, territories
Finance Minister François-Philippe Champagne tabled Bill C-26, the Improving Housing Supply Act, which would provide a one-time $1.7-billion transfer to provinces and territories aimed at boosting housing construction, with no additional provisions beyond the funding authorization. The federal government says provinces will have wide flexibility in how they use the money, with Champagne saying, “We wanted also to make sure that every part of the country could use their own solutions and tools in their toolbox to increase the supply of new homes across the country,” while allocations will be based on a formula targeting large cities facing weak home sales and affordability pressures. The announcement comes alongside provincial moves such as Ontario’s expanded housing rebate supported by a federal deal, as Premier Doug Ford pursues affordability measures, while the Federation of Canadian Municipalities welcomed the funding but cautioned that “there is still much to do to make housing truly affordable for all,” citing rising homelessness.
