Photo credit: The New York Times
The federal government is betting big on a recently created Crown corporation to boost homebuilding, promising billions to expand the role off Build Canada Homes (BCH)
Parliament Today reports that Finance Minister Francois-Philippe Champagne’s 2026 budget was tabled in the House late Thursday. It lays out the “next steps” of the government’s housing strategy, with three pillars: ending homelessness within a decade, tripling non-market housing construction and spurring a market that delivers for more Canadians.
“All told, the investments in this budget will set Build Canada Homes on a path to deliver 200,000 new homes across the country in the next decade, making its total capitalization $45 billion,” the document says, adding that at least 10 percent of the organization’s growing envelope will be set aside for Indigenous housing projects.
Prime Minister Mark Carney has framed Build Canada Homes as an effort to help turbocharge construction in the housing sector.
In his speech from the chamber floor, Champagne acknowledged the task is immense.
“Tonight, thousands of Canadians will sleep in shelters or on the street, with none of the security or stability that adequate housing provides. We can do better. We must do better. And we will do better,” the minister told MPs, according to the prepared text of his remarks.
Speaking with reporters shortly before tabling the budget, Champagne struck a compassionate tone while counting the housing target as among the budget’s signature promises.
“If we have the fiscal capacity to grow, we also need to be there and support Canadians in their time of need,” he said. “I think it’s the right thing to do. You know, when you do a budget, you think with your mind, but also be there with your heart.”
While the budget says housing market conditions have recently improved, it warns the country continues to play catch-up on the supply side, given a shortfall has grown over the years.
Ottawa has committed $1.7 billion to provinces and territories through legislation that passed this summer and worked to reduce development charges through the Build Communities Strong Fund to boost housing supply. While these have made a dent, the budget says affordability barriers remain.
It pitches a mix of legislative changes, and renewal of existing programs or bringing them on new ones – for instance, setting aside $1.8 million to create the Integrated Supports Fund under BCH.
