On Tuesday, April 28, the Government of Canada released its 2026 Spring Economic Update: Canada Strong For All. The update builds on the 2025 Budget which placed a large emphasis on investing in infrastructure, reducing operational spending, and increasing productivity and competitiveness.
The update brings forward some policies intended to support housing, including providing targeted GST relief for homebuyers, extending the Unsheltered Homelessness and Encampments Initiative, providing additional funding to Housing, Infrastructure and Communities Canada, preserving Canada’s existing affordable housing stock through the creation of the Canada Rental Protection Fund, and extending the grace period for Home Buyers Plan withdrawals from a Registered Retirement Savings Plan. There continues to be an emphasis on reducing development charges.
Our members may also be interested in the following initiatives:
- Major Projects Office: 21 nation-building initiatives intended to connect, diversify, and propel the economy
- Pausing Fuel Excise Tax: Until Labour Day, the fuel excise tax is paused, saving up to 10 cents/L on gasoline and 4 cents/L on diesel
- Lowering Canada Pension Plan Rate: Reducing the contribution rate of the base from 9.9% to 9.5% which will result in savings for both employees and employers
- Team Canada Strong: An initiative to recruit, train and hire new skilled trade workers. The aim of the program is both to encourage more young Canadians to enter the skilled trades and secure paid employment, and to address a looming skilled labour shortage in the housing, infrastructure and defence sectors.
- Canada Community Security Program: Funding for eligible organizations including places of worship, schools, and community centres to enhance security measures.