Spending on housing programs will decline by more than half over the next four years with the federal government’s $13-billion signature housing initiative leading to the construction of just 26,000 new homes, a new parliamentary budget officer (PBO) report says.

The budget watchdog's report specifically looks at Prime Minister Mark Carney’s new housing agency, Build Canada Homes , and how it and other programs will contribute to the construction of new homes between now and 2029-30.

The report concludes that the $9.8 billion the federal government is spending on housing initiatives in 2025-26 will decline to just $4.3 billion annually by 2028-29, a drop of 56 per cent.

That annual funding drop, the PBO says, is due in large part to the expiry of funding for programs such as the Hou

See Full Page