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Governments of Canada and British Columbia Announce Expert Panel on the Future of Housing Supply and Affordability

September 4, 2019 – Vancouver, British Columbia – Department of Finance Canada

Having a safe and affordable place to call home is something every Canadian deserves. Yet finding affordable housing can be a challenge for many. The Governments of Canada and British Columbia continue to deliver on their commitment to make housing that is safe, suitable and well-maintained become more affordable and within reach for Canadians.

Today, Minister Bill Morneau, Minister Carole James and Minister Selina Robinson announced the members of the Expert Panel on the Future of Housing Supply and Affordability. The panel will be chaired by Joy MacPhail. Ms. MacPhail is currently the Chair of the Insurance Corporation of British Columbia.

Other members of the panel are:

  • Jill Atkey, CEO of BC Non-Profit Housing Association
  • Jock Finlayson, Executive Vice President and Chief Policy Officer of the Business Council of British Columbia
  • Brian McCauley, President and CEO of Concert Properties
  • Sue Paish, CEO of Canada’s Digital Technology Supercluster
  • Helmut Pastrick, Chief Economist for Central 1 Credit Union

The Expert Panel will examine housing trends for rental and homeownership, exploring options to allow British Columbians to have further access to housing that they need and can afford. The Expert Panel members are leaders and specialists in a range of fields with relevant expertise who will consult with stakeholders to identify and evaluate measures that could build on recent investments and initiatives to increase the supply of housing in British Columbia to meet demand.

The panelists’ consultations and analysis will be supported by the Government through a secretariat established by Canada Mortgage and Housing Corporation, led by Evan Siddall as Executive Secretary.

The Expert Panel will complete their work and provide a report to the Ministers of Finance of British Columbia and Canada by the end of 2020.

Quotes

“We know how important safe and affordable housing is to British Columbians, and all Canadians. The work that the Expert Panel will undertake will help us to better meet future housing needs in communities across the country, and make finding an affordable place to a call home a reality for more Canadians as our towns and cities continue to grow.”

– Bill Morneau, Minister of Finance

“From cracking down on fraud and speculation in our housing market to getting more than 21,000 new homes open or underway throughout British Columbia, our government has made significant strides in addressing the housing crisis through our 30-point plan. We welcome collaboration with our federal partners through the Expert Panel and look forward to the panel’s recommendations on how we can deliver affordable housing for all British Columbians now, and into the future.”

– Carole James, B.C. Minister of Finance

“People in B.C. deserve access to a home they can afford, and we’re working with all levels of government, First Nations, non-profit housing providers and the private sector to build 114,000 new homes over 10 years. The Expert Panel is an important opportunity to continue working together to tackle the housing crisis and build the homes people need.”

– Selina Robinson, B.C. Minister of Municipal Affairs and Housing

Quick Facts

  • To help more Canadians access affordable housing that meets their needs, the Government of Canada launched the National Housing Strategy—a 10-year, $55+ billion plan that will build 125,000 new affordable housing units, repair 300,000 others, and reduce chronic homelessness by 50 per cent.
  • Since the Strategy was announced in 2017:
    • The new National Housing Co-Investment Fund has been launched, and is expected to help build 60,000 new units and repair or renew 240,000 existing units of affordable and community housing.
    • Twelve provinces and territories have now signed bilateral agreements under the multilateral Housing Partnership Framework, which will see more than $7.7 billion in new federal funding flow to provinces and territories over the next decade to support the stock of community housing and address regional priorities.
  • The B.C. Government has taken bold steps to tackle the housing crisis and deliver the affordable homes British Columbians need, including the largest investment in housing affordability in B.C.’s history—$7 billion over 10 years. Through a 30-point housing plan, the provincial government is committed to working in partnerships to deliver 114,000 affordable homes over 10 years. The plan has also introduced new, progressive taxes aimed at curbing speculative demand that has driven up the cost of living.
  • The federal government has taken concrete steps to make homeownership more affordable for first-time buyers by implementing a First-Time Home Buyer Incentive, a shared equity mortgage program that would reduce the mortgage payments required to own a home; and by providing greater access to their Registered Retirement Savings Plan savings to buy a home.
  • The federal government has also taken steps to increase supply in Canada’s housing and rental markets by expanding the Rental Construction Financing Initiative to provide low-cost loans for the construction of new rental housing for modest- and middle-income Canadians. With this increase, the program would support 42,500 new units across Canada.

Associated Links

Media may contact:

Pierre-Olivier Herbert
Director of Media Relations
Office of the Minister of Finance
pierre-olivier.herbert@canada.ca
613-369-5696

Chandler Grieve
B.C. Ministry of Finance
Chandler.grieve@gov.bc.ca
250-883-2237

Media Relations
Department of Finance Canada
fin.media-media.fin@canada.ca
613-369-4000

General Enquiries

Phone: 613-369-3710
Facsimile: 613-369-4065
TTY: 613-369-3230
E-mail: fin.financepublic-financepublique.fin@canada.ca

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