Good afternoon.

Thank you Premier Eby and Ministers Robertson, Boyle, Ma, Farnsworth, Osborne, and Greene.

It’s always great to be back in Vancouver, especially on gameday with Canada Qatar at BC Place.  And welcome to Secretary of State, Adam van Koeverden, Canada’s FIFA Sherpa – which is great work if you can get it.

I want to congratulate Premier Eby and the City of Vancouver on showcasing the best of Canada and of the beautiful game.

The 2026 FIFA World Cup is the pinnacle of sport. More than 350,000 fans will come to Vancouver. Yes, that will create thousands of jobs and add billions to our economy, but by far the most important will be the experience of the world coming together to celebrate when it most needs to.

And there is no better place to do that than right here, right now.

As the world converges on Vancouver, it will discover a province as ambitious as it is beautiful.

In a rapidly changing world, we draw inspiration from British Columbia’s history and its ambition to build.

Our government is building big new ports, mines, and energy and trade corridors literally from coast to coast to coast. Of the 22 projects and strategies we’re advancing through the Major Projects Office, a third are in B.C.

Transformative projects like the Northwest Critical Conservation Corridor which will unlock critical mineral development and clean power while creating a conservation area the size of Greece – all in full partnership with First Nations.

Projects that unlock Canadian energy, including LNG Canada Phase 2 in Kitimat, which will double LNG Canada’s production, and the Nisga’a Nation-led Ksi Lisims LNG project on Pearse Island, one of the lowest-emission LNG facilities in the world.

I just came back from the 2026 G7 Leaders’ Summit, where it is clear that the world wants to partner with Canada – from critical minerals to artificial intelligence, agriculture, and clean tech. And that it welcomes the potential for Canada to deliver significant additional energy at a time when energy security and affordability are the focus of billions of people around the world.

Over the past year, we’ve established more than 20 economic and security partnerships – from India to Korea to France – and everyone wants more energy from British Columbia.

As we are building big and connecting global, we’re also building local and connecting people.

We’re building new hospitals, transit, and wastewater systems – through the new $51 billion Build Communities Strong Fund.

We have already announced 37 projects, including the Marpole Community Centre in Vancouver.

In September, we launched Build Canada Homes to catalyse an entirely new housing industry that’s more affordable, more sustainable, and more Canadian.

In a few months, under Minister Robertson’s leadership, we have committed to build more than 11,000 new homes through 14 partnerships across the country – including more than 700 units in British Columbia.

Of those, 4,500 units are already under construction or will break ground in the next three months.

In March, we introduced a bill that will unlock $1.7 billion in federal funding to help the provinces and territories lower the cost of homebuilding. Since then, we’ve allocated over $280 million specifically to British Columbia.

While there are still clear challenges in the housing market, there are signs of progress.

Rents are starting to come down and affordability is beginning to improve.

Rents are at a 20-month low, and the rent-to-income ratio has fallen to its lowest level in over six years.

In Vancouver, rent for a one-bedroom is down more than 6% compared to last year.

Now is the time to reinforce that progress, by tackling the housing crisis from every angle.

In B.C., not enough affordable homes are being built, so demand continues to far outpace supply.

And, at the same time, too many completed condos are sitting empty. In Metro Vancouver alone, around 2,500 finished units are standing vacant with no buyers.

With higher interest rates and weak investor demand, developers are stuck. They don’t want to sell at a loss, but they also cannot afford to hold empty units indefinitely.

The problem is that these empty homes do not just sit idle. They also disincentivise new construction, unsettle lenders and investors, and create a housing market that is, in effect, frozen.

The result is that many British Columbians still cannot find homes they can afford.

We’re changing that with a plan that directly addresses these challenges in order to increase housing supply and improve housing affordability.

Today, I am pleased to announce that Canada and British Columbia have reached a landmark new agreement to help build more homes, bring down housing costs, and modernise infrastructure across the province.

We will do this by:

• Reducing development charges.
• Converting vacant condos into affordable housing.
• Investing in community infrastructure – from schools and hospitals to public transit.

One of the biggest barriers to building new homes is development charges.

These are fees charged to developers to fund the infrastructure needed to support new housing, including water mains, roads, parks, and community facilities.

They can delay projects before they even start. And when housing comes onto the market, hidden costs are often passed on to buyers and renters.

Through the Build Communities Strong Fund, Canada will invest $1.6 billion in community infrastructure over the next decade. The B.C. government will match that investment.

This $3.2 billion will help finance the infrastructure communities need to support more housing, while reducing municipal development charges that get passed on to home buyers, so more people can afford those homes.

Under this agreement, development charges on multi-unit housing projects across British Columbia will be reduced by up to 50% for three years.

That means lower upfront costs, greater certainty for builders, and more affordable homes for you to buy or rent.

For a new unit, this could reduce costs by up to $40,000.

We can also increase housing supply by making better use of the homes already built.

To that end, today, we are announcing the new Canada-British Columbia Partnership on Condo Conversion.

Together, we will leverage innovative financing tools from Build Canada Homes to convert thousands of vacant condo units into affordable homes.

One of the fastest and most effective ways to increase the housing supply is to convert vacant properties into affordable housing.

Over the coming months, our governments will formalise this partnership and will begin bringing affordable housing back to the market by this fall.

Finally, as we increase the housing supply across the province, we are building new community infrastructure.

New and improved transit systems, hospitals, and community centres.

We are providing $50 million to support community infrastructure projects – such as water systems – in coastal communities, with priority to projects in Terrace and Prince Rupert.

We are deploying $2.5 billion through the Canada Public Transit Fund to build new transit infrastructure projects and bus routes, and modernise transit networks across B.C., including support for projects such as the Surrey-Langley Sky Train extension.

With eight new stations along the Fraser Highway, this expansion will significantly reduce commute times and allow commuters to spend more time with their families. A trip from Langley City Centre to King George Station will take just 22 minutes. 

In many B.C. communities, hospitals built in the 1970s are now serving populations twice the size they were designed for – making families wait too long for the care they need.

So, we’ve agreed to partner with the province to upgrade and expand hospitals, emergency rooms, urgent care centres, medical schools, and other critical health facilities.

The federal government and the province will each contribute more than $600 million, so more British Columbians can get faster health care when they need it.

I want to take a minute to speak about one particularly important part of today’s announcement.

Back in February, when the Premier and I went to Tumbler Ridge in the wake of the horrific shooting at its secondary school, we heard directly from students, parents, teachers, first responders, and neighbours about ways to help the healing from the trauma, the loss, and the grief of that unspeakable tragedy.

The Premier and I promised we would be there for the community as they rebuild. To that end, the federal government and the B.C. government are announcing today that we will each provide $100 million to build a new school and a modernised health care centre for the Tumbler Ridge community.

A new school for bright kids to learn, grow, and dream. Better facilities for the incredible healthcare workers who support those in need.

Construction will begin this summer, starting with the removal of the existing school.

I want to thank Premier Eby for his partnership on both such vital local community projects and major nation-building projects as we build at a scale and speed not seen in generations.

We both share the conviction that it is not just what we build, but how we build. We are building sustainably with a focus on lowering emissions. We are building inclusively in full partnership with First Nations, and we are building in solidarity with workers.

Building a Canada that is not only strong, but also good.

A Canada that is not only prosperous, but also fair and affordable.

A Canada that doesn’t just work for a few, most of the time, but works for everyone, all of the time.

We’re building British Columbia strong to build Canada strong for all.

Thank you.