Canada’s 2024 budget focuses on enhancing housing supply, dedicating $50 million over two years to the Foreign Credential Recognition Program.

Half is for the construction industry, with the rest aiding foreign credential recognition in healthcare. The budget aims to construct 3.87 million new homes by 2031 and make renting while saving for a first home easier.

The government plans to tackle the housing crisis with strategies such as a $4 billion Housing Accelerator Fund, the Affordable Housing and Groceries Act, and $20 billion in new financing for rental apartments. To meet the growing demand, Ottawa trains skilled trade workers and reviews temporary resident programs to align with labour market needs.

Recognizing a predicted construction industry shortage of over 60,000 workers by 2032, $100 million is allocated over two years, with the majority for the Apprenticeship Service and some for the Skilled Trades Awareness and Readiness Program.

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