CALGARY, AB, May 13, 2026 /CNW/ - In Budget 2025, we outlined our plan to build Canada Strong.
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, Corey Hogan, Parliamentary Secretary to the Minister of Energy and Natural Resources and Member of Parliament for Calgary Confederation, hosted a roundtable with local community housing partners to highlight housing measures from the Spring Economic Update 2026 that will help build more homes in Calgary by growing the skilled workforce, speeding up construction and supporting modern methods of construction.
The Spring Economic Update takes a practical, co-ordinated 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 ensure communities have the electricians, carpenters, welders and construction workers needed to build homes for Canadians. This creates good-paying jobs and careers in the skilled trades as we push to build with more Canadian labour and materials.
We're pairing workforce investments with targeted measures to move projects faster from financing to construction. The Spring Economic Update 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 2026–2027, 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 and eliminating duplicate inspections, as well as streamlining modular and factory–built housing. Together, in Alberta and across Canada, these measures also create the opportunity to build with materials that help grow our economy and support local jobs, like Canadian lumber, aluminum and steel.
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 faster -- and that starts with up-skilling our workforce to deliver affordable new homes in Alberta and beyond. Through the Spring Economic Update, our government is investing so homes can move from planning to construction faster. Here in Calgary, these investments will help create good-paying jobs, strengthen our local economy and deliver the homes families need now and in the future."
Corey Hogan, Parliamentary Secretary to the Minister of Energy and Natural Resources and Member of Parliament for Calgary Confederation
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 2026–2027) 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 percent.
- 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
- Spring Economic Update 2026: Key Measures
- Spring Economic Update 2026: Address by the Minister of Finance and National Revenue
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SOURCE Natural Resources Canada
Contacts: Natural Resources Canada, Media Relations, 343-292-6096, [email protected]; Charlotte Power, Office of the Minister of Energy and Natural Resources, [email protected]
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