Here’s how our Liberal housing plan will help you afford a home

Mark Carney’s Liberal government will double the pace of construction to almost 500,000 new homes a year, with a housing plan that will:

Get the government back in the business of building

The Liberal housing plan will create Build Canada Homes (BCH) to get the federal government back into the business of home building, by:
  • acting as a developer to build affordable housing at scale, including on public lands.
  • catalyzing the housing industry by providing over $25 billion in financing to innovative prefabricated home builders in Canada, including those using Canadian technologies and resources like mass timber and softwood lumber, to build faster, smarter, more affordably, and more sustainably.
  • providing $10 billion in low-cost financing and capital to affordable home builders.

Cut red tape and make it easier to build

The Liberal housing plan will make the housing market work better by catalyzing private capital, cutting red tape, and lowering the cost of homebuilding:
  • cutting municipal development charges in half for multi-unit residential housing while working with provinces and territories to keep municipalities whole.
  • reintroducing a tax incentive which, when originally introduced in the 1970s, spurred tens of thousands of rental housing across the country.
  • facilitating the conversion of existing structures into affordable housing units.
  • building on the success of the Housing Accelerator Fund, further reducing housing bureaucracy, zoning restrictions, and other red tape to have builders navigate one housing market, instead of thirteen.

Cut taxes for first-time buyers

The Liberal housing plan will build on the elimination of the Goods and Services Tax (GST) for first-time homebuyers on homes at or under $1 million.