A bold vision and comprehensive investment
plan are needed to effectively address Canada's housing and infrastructure
challenges
OTTAWA,
ON, April 16, 2024 /CNW/ - The federal
government's housing strategy is a long-awaited step forward to
build more homes, but significantly more investment is needed to
address critical infrastructure needs and the housing crisis, says
Canada's construction
industry.
The federal government's plan announced in this Budget, as well
as actions taken through the 2023 Fall Economic Statement, promises
at least 1.2 million more homes for Canadians, on top of what the
industry was planning to build. Yet, with estimates by the
Federation of Canadian Municipalities showing that each new housing
unit requires $107,000 in public
infrastructure investment, an additional $128 billion is needed to build, support, and
connect these homes to essential housing-enabling infrastructure.
This is a major shortfall in the investment needed. Moreover, the
focus on measures to ease lending for homebuying and rezoning may
only serve to exacerbate demand in the long-term with no real
long-term vision on how to increase supply.
"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," says Mary Van
Buren, President of the Canadian Construction Association
(CCA). "While we acknowledge some initiatives, such as funding for
creating affordable apartments, training and recruiting more
workers, and upgrading water and wastewater systems, the conditions
attached and lack of strategic vision are concerning."
With growing demands to not only build more homes but also the
inevitable requirement for the necessary housing-enabling
infrastructure to connect these homes to the services they need,
CCA says the urgency to collaborate with provinces, municipalities,
and the industry is more pressing than ever.
"We need investments in infrastructure that are made based on
the real needs of Canadians – projects that are shovel-worthy
rather than just shovel-ready," says Van
Buren. "This visionary and consultative approach is what
Canadians deserve."
Canada's construction industry
underscores the urgent need for the federal government to implement
policies and incentives that support not only housing construction
and related essential infrastructure, including trade-enabling
infrastructure, but also investment and help bypass construction's
boom and bust cycle. This includes programs to build the workforce
we need and construction projects that share risk so that
innovation and investment is encouraged, not hampered.
CCA calls for a shift in federal strategy when it comes to
infrastructure investment and housing affordability – one that
aligns all orders of government and equips the construction
industry with a supportive policy environment.
Canada's construction industry
stands ready to collaborate with all levels of government and
stakeholders to address these critical challenges and build a
better future for all Canadians.
For more information on our recommendations to government, read
CCA's pre-budget submission.
Website
cca-acc.com
Social media
Twitter: @ConstructionCAN
LinkedIn: Canadian Construction Association—Association
Canadienne de la Construction
YouTube: ConstructionCAN
About CCA
Across Canada, CCA represents
more than 18,000 member firms drawn from 63 local and provincial
integrated partner associations. CCA gives voice to the public
policy, legal and standards development goals of contractors,
suppliers and allied business professionals working in, or with,
Canada's institutional, commercial
and industrial, civil and multi-residential construction
industry.
The construction sector is one of Canada's largest employers and a major
contributor to the country's economic success. The industry, 70 per
cent of which is made up of small and medium enterprises, employs
more than 1.6 million Canadians and contributes 7.4 per cent of
Canada's Gross Domestic
Product.
SOURCE Canadian Construction Association (CCA)