Overview

• Canada's government plans to invest an additional C$15 billion in new loan funding for the Apartment Construction Loan Program, supporting more than 30,000 additional new homes by 2031-32.
• An additional C$1 billion will be invested over three years for the Affordable Housing Fund, supporting non-profit, co-op, and public housing providers to build more than 7,000 new homes by 2028.
• New measures will be introduced to remove barriers to internal labor mobility and deny income tax deductions for expenses incurred to earn short-term rental income in areas where short-term rentals are prohibited.
• The government will propose to spend C$50 million over three years to support municipal enforcement of restrictions on short-term rentals and introduce a new Canadian Mortgage Charter.
• Plans to explore removing the rule that restricts Canadian pension funds from holding more than 30% of the voting shares of most corporations and to begin buying up to C$30 billion of Canada Mortgage Bonds from February 2024.