Yesterday, the Government of Canada announced investments in critical housing infrastructure. Following the announcement, Liam McGuinty, Vice-President, Federal Affairs, Insurance Bureau of Canada (IBC), issued the following statement:
“IBC and its member companies welcome yesterday’s announcement by the Honourable Gregor Robertson and the Government of Canada regarding investments in housing-enabling infrastructure, including a $283 million commitment to upgrade Toronto’s Black Creek sewer system.
We also commend Mayor Olivia Chow and the City of Toronto for its leadership in reducing flood risk through its investment of over $425 million toward the project.
These investments are a critical step toward unlocking needed housing supply and importantly, reflects a growing recognition that resilient infrastructure is foundational to resilient communities.
As outlined in IBC’s Three-Point Resilience Plan, governments must prioritize smart, risk-informed development that protects Canadians from the increasing impacts of natural disasters.
Yesterday’s announcement is a strong signal that the federal government understands the importance of ensuring homes are built in the right places and in the right ways. As Budget 2025 approaches, IBC urges federal, provincial, and municipal leaders to continue prioritizing disaster resilience in housing and infrastructure planning. We look forward to working with Build Canada Homes and all levels of government to ensure that new housing developments are resilient."
