Budget 2026 has a major focus on affordability, but will these national promises translate to results here in B.C.?

Ottawa has committed an additional $13 billion over 10 years to expand non-market housing, with a goal of delivering 200,000 homes nationally. While it’s not clear how much of that pie will be split for B.C., Vancouver’s Heather Lands development is specifically identified as a project receiving federal support. This is a big investment that will greatly depend on how quickly homes are built.

While the feds have pledged to reduce developmental costs and extend the Canada Housing benefit by 10 years, Giacamo Ladas, communications director with Rentals.ca, says long-term construction targets may offer little immediate relief for affordability.

“There are still so many roadblocks that developers face, even with all of this additional spending,” Ladas said.

“You also have to let developers do what they do best and build quicker and reduce fees to offset it to renters.”

Small businesses are also getting attention in this year’s federal budget, with Ottawa promising more financing, tax incentives, and support for companies dealing with tariffs and rising operating costs. Bridgitte Anderson, president and CEO with the Greater Vancouver Board of Trade (GVBOT), says these announcements will help change the narrative of investing in Canada and B.C., “particularly around the productivity mega deduction, around the Canada growth incentive.”

“Those two things send a signal to investors that Canada is open for business,” she said.

But whether B.C. will reap any of these promised benefits rests on the shoulders of the next provincial government. Premier-elect Lorne Doerkson spoke briefly about Ottawa’s new budget and points to six projects highlighted by the feds’ major projects office, such as LNG Canada Phase 2, and Roberts Bank Terminal 2.

“It is amazing to have a great partnership and certainly it’s been recognized just how important a role British Columbia can play in Canada’s economy,” Doerkson said.

The federal government has also allotted $1.5 billion in funds for the George Massey “Crossing” project — half the promised amount back in July.

“We’ve had very good conversations with the federal government, and they’ve committed to up to a third of that investment, whatever that might be, with a cap at 3 billion,” Doerkson said.