Budget 2024: Housing plan takes centre stage, yet investment levels draw industry scrutiny
While the introduction of Canada’s Housing Plan formed the centrepiece of the 2024 Federal Budget, the industry remains critical about the significant shortfall of investment in housing-enabling infrastructure.
“Budget 2024 sets a bold objective to help Canadians buy homes but misses the mark on delivering sufficient investment and a plan to ensure a steady flow of funds to address our nation’s infrastructure challenges,” said Mary Van Buren, CCA President.
While the Canada Housing Plan is a notable step, there were significant opportunities missed to grow Canada’s economy and bring certainty to the industry.
Missed opportunities:
- Next steps for the National Infrastructure Assessment
- Investment in corresponding infrastructure for every new home built
- A long-term plan to fill the gap in our trade-enabling infrastructure
- Modernization of procurement strategies to support shared risk
- Meaningful collaboration with provinces, municipalities and industry
Over the next few months, CCA will reinforce our recommendations in support of a strong economy during our annual Meech Lake meeting in May, through a robust outreach strategy leading into the summer recess, culminating with Hill Day 2024 where the industry will convene to make our messages heard in Ottawa.
For more information on our recommendations to government, please contact Louis-Philippe Champagne, Director of Government Relations and Policy, or Mario Baker, Assistant Manager, Economics and Policy Development.