ETOBICOKE, ON, May 8, 2026 /CNW/ - The Spring Economic Update 2026 is the next step in our plan to build Canada Strong for All. It provides a clear update on the strength of Canada's economy, giving Canadians confidence in our plan. It delivers targeted relief to make life more affordable, support workers, and accelerate the construction of homes and major infrastructure. It also strengthens Canada's competitiveness and economic growth while investing in strong, safe communities across the country.
Today, the Honourable John Zerucelli, Secretary of State (Labour), was at SMART – Local 285 to highlight housing measures from the Spring Economic Update 2026 that will help build more homes in Etobicoke, Ontario--by growing the skilled workforce, speeding up construction, and supporting modern methods of construction.
The Spring Economic Update 2026 takes a practical, coordinated approach to housing--bringing together workforce investments and targeted measures to help projects move faster from planning to construction.
A cornerstone of this approach is $6 billion to recruit, train, and hire skilled trades workers across Canada. These investments will ensure communities have the skilled tradespeople they need, such as electricians, carpenters, welders, construction workers, sheet metal workers and gas technicians needed to build homes for Canadians-- all while creating good paying jobs and careers in the skilled trades. This is especially important as we make the push to build with more Canadian labour and with more Canadian materials.
In Etobicoke, where the housing demand remains strong, workforce investments are paired with targeted measures to help projects move faster from financing to construction. The Spring Economic Update 2026 accelerates more than $7 billion in low-cost loans through the Apartment Construction Loan Program, supporting the construction of up to 16,500 new rental homes and helping bring much‑needed supply to market sooner.
These efforts are reinforced by a $41.9 million investment over five years, starting in 2026–27, to modernize and innovate Canada's homebuilding system. This funding will streamline regulations and update National Model Codes in collaboration with provinces and territories--cutting red tape, eliminating duplicate inspections, as well as streamlining modular and factory‑built housing. Together, in Ontario and across Canada, these measures also create the opportunity to build with materials that help grow our economy and support local jobs – like building with Canadian lumber, steel, concrete. This means building faster and more sustainably, while supporting modern methods of construction.
Our new government is building a Canada that is not just strong, but good; not just prosperous, but fair; a Canada that is not just for some, most of the time, but for all, at all times. We're building Canada strong, for all.
Quotes
"Solving Canada's housing challenge means building – and that starts with having the skilled workforce to deliver. Through the Spring Economic Update, our government is investing in workers. Here in Etobicoke – and across Canada – these investments will help create good-paying jobs, strengthen the local economy, and deliver the housing that families need now and for the future." --The Honourable John Zerucelli, Secretary of State (Labour)
"The Spring Economic Update is investing in union training centres, apprenticeship supports, and labour mobility, recognizing the essential role skilled tradespeople play in building Canada's future. These measures will create more opportunities for our apprentices to succeed, strengthen the skilled workforce our economy depends on, and support the next generation of SMART members. With more than 17,000 members across Canada, SMART Canada knows firsthand the impact these investments will have on our members, families, and communities nationwide." -- Jack Wall, Director of Canadian Affairs, SMART Canada.
"This is a positive step forward for our workers, and our communities. These measures will help create good jobs, strengthen economic stability, and support the skilled workforce that our communities rely on every day." -- Alex Petricca, Business Manager, SMART Local 285
Quick facts
- The Spring Economic Update 2026 builds on recent action--including $1.7 billion through the Improving Housing Supply Act--to cut red tape, lower costs, and speed up homebuilding.
- $41.9 million over five years (starting 2026–27) will modernize homebuilding by streamlining regulations and National Model Codes, enabling faster approvals for modular and factory‑built housing, accelerating adoption of innovative construction methods, and improving housing data to support faster delivery.
- The government intends to unlock financing for "missing middle" housing by expanding mortgage insurance for three‑ to eight‑unit residential buildings, with a 30‑day consultation to follow.
- Team Canada Strong will invest up to $6 billion over five years to grow the skilled trades workforce--supporting apprentices end‑to‑end and cutting the time to Red Seal certification by up to 50 per cent.
- Working alongside a comprehensive suite of federal housing measures, Build Canada Homes is providing tailored support to quickly address varying housing needs across the country.
Associated links
Spring Economic Update 2026: Canada Strong for All
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SOURCE Employment and Social Development Canada
Contacts: For media enquiries, please contact: Renée LeBlanc Proctor, Senior Communications Advisor and Press Secretary, Office of the Minister of Housing, Infrastructure and Communities and Minister responsible for Pacific Economic Development Canada, [email protected]; Housing, Infrastructure and Communities Canada, 613-960-9251, Toll free: 1-877-250-7154, Email: [email protected]
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