Carney Signals B.C. Development Fee Cuts: Early Talks Could Reshape Pre-Sale Economics and Stalled Projects

Prime Minister Mark Carney used his May 21 address to the Greater Vancouver Board of Trade to announce that Ottawa is in early discussions with the B.C. government about cutting development fees on new housing construction. Speaking to a packed audience of business executives and investors, Carney confirmed the federal government is exploring a partnership similar to the recent Ontario agreement, which temporarily halved development charges and removed GST/HST from new homes. The remarks came as part of a broader economic vision positioning B.C. as central to Canada's trade diversification, energy security, and critical minerals strategy, with Carney emphasizing that "fortune favours the bold" amid global instability.