Home builders are warning that Ottawa’s new $4-billion fund to help municipalities move faster on new home approvals faces significant hurdles in speeding up the pace of construction in Canada
Under the program, municipalities would be eligible for payments from Ottawa if they increase the pace of approvals for new home construction.
The federal government does not directly control home-building approvals so the program can only work with co-operation from municipalities, which will only be eligible for funding if they sign on and agree to the financing terms. Even if the new fund can succeed in speeding development approvals, the construction industry says it will be hard to double the pace of home building because of an industry-wide shortage of construction workers and other tradespeople.
The budget also proposes to make it easier for construction workers to travel for new projects in the country by providing a tax deduction of up to $4,000 a year in relocation expenses. That would be effective for the 2022 tax year.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Statistics Canada to release March unemployment rate today - National | Globalnews.caStatistics Canada is scheduled to disclose this morning how the job market fared in March, a month after a strong report that saw the unemployment rate fall to pre-pandemic levels.
Read more »
How Trudeau proposes to make Canada a key supplier of critical mineralsBillions earmarked in the federal budget to develop an industry crucial to the world\u0027s energy transition
Read more »
Amazon to hike price of Prime membership in Canada - National | Globalnews.caAmazon is raising the price of its Prime membership in Canada. The e-commerce giant's subscription service will begin phasing in higher fees for new subscribers immediately.
Read more »
Terence Corcoran: Liberal budget has Canada roaring backwardsFederal budget 2022: COVID policy has gouged a permanent hole in our current economic circumstances
Read more »
Terence Corcoran: Liberal budget has Canada roaring backwardsFederal budget 2022: COVID policy has gouged a permanent hole in our current economic circumstances
Read more »