The federal government says its Spring Economic Update 2026 marks a major step toward accelerating homebuilding and strengthening communities across Canada, with British Columbia positioned as a key beneficiary of new investments in skilled labour, construction financing, and modern building methods.
At an event held May 6 at the British Columbia Institute of Technology (BCIT), Housing and Infrastructure Minister Gregor Robertson highlighted a suite of measures aimed at boosting B.C. housing supply. He said the update “provides a clear picture of the strength of Canada’s economy” while delivering targeted support to make life more affordable and help projects move from planning to construction more quickly.
“The Spring Economic Update marks an important step forward in building more homes and strengthening communities across British Columbia and Canada,” Robertson said. “By supporting a skilled workforce, reducing delays, and accelerating modern methods of construction, we are delivering housing at a speed and scale not seen in generations.”
A central pillar of the plan is a $6‑billion investment to recruit, train, and hire skilled trades workers nationwide. The government says the funding will help ensure communities have the electricians, carpenters, welders, and construction workers needed to meet rising housing demand—particularly in B.C., where population growth continues to outpace supply.
“This is especially important as we make the push to build with more Canadian labour and with more Canadian materials,” Robertson added.
To complement workforce expansion, the update accelerates more than $7 billion in low‑cost loans through the Apartment Construction Loan Program. Ottawa says the financing will support up to 16,500 new rental homes, helping bring much‑needed supply to market sooner.
The plan also includes $41.9 million over five years to modernize Canada’s homebuilding system. The funding will streamline regulations, update National Model Codes, and reduce duplicate inspections—changes the government says will speed up approvals for modular and factory‑built housing. Officials also point to opportunities to expand the use of mass timber, supporting both sustainability goals and local jobs.
“Our new government is building a Canada that is not just strong, but good; not just prosperous, but fair,” Robertson said. “We’re building Canada strong, for all.”
