Prime Minister Mark Carney Signals Possible New Housing Development Fee Cuts While Outlining His Economic Vision for B.C.

During a recent address to the Greater Vancouver Board of Trade, Prime Minister Mark Carney outlined an ambitious economic vision for British Columbia, emphasizing the need for housing development fee cuts to tackle the region's affordability crisis. He stated, 'Part of the reason why housing’s not affordable is we haven’t built affordable housing.'

Carney's speech, delivered on May 21, 2026, highlighted the interconnectedness of energy security, climate transition, and housing supply. He pointed out that the federal government is in discussions with B.C. to implement similar housing agreements as those recently established in Ontario, which aim to significantly reduce development costs.