May 20, 2024 10:41 AM

10:41 am,
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Canada Announces A Boost In Funding In Its Federal Budget To Improve Credential Recognition For Construction Workers

The 2024 budget focuses heavily on boosting Canada’s housing supply by providing measures and funding to encourage more skilled trades workers to contribute to that goal.

The budget, delivered by Canada Finance Minister Chrystia Freeland on April 16 in Ottawa, provides $50 million to Employment and Social Development Canada over two years for the Foreign Credential Recognition Program.

Half this amount will be dedicated to the construction industry, focusing on homebuilding.

The remaining funding will support foreign credential recognition in the healthcare sector. It is an addition to Budget 2022’s five-year $115 million investment.

The budget proposed the construction of 3.87 million net new homes by 2031. 

The budget said that the government is taking action to build more homes, shedding light on the plan released in the ‘Solving the Housing Crisis: Canada’s Housing Plan.’ It includes Ottawa’s proposal to make renting and buying a home easier.

Ottawa is topping up the $4 billion Housing Accelerator Fund. It includes 179 agreements with municipalities, provinces, and territories, enabling the construction of more than 750,000 new homes in the next 10 years – with $400 million to build more homes faster and in more communities.

Besides, to ensure that Canada has the workers and innovative construction methods needed to build more homes fast, Ottawa is training and recruiting skilled trades workers and transforming how houses are built to increase construction productivity.

Canada recently also initiated a review process for temporary resident programs to better align with labor market needs, protect against system abuses, and match the capacity to build new homes.

The budget has suggested providing $100 million to Employment and Social Development Canada over two years, of which $90 million will be spread over two years for the Apprenticeship Service to help create placements with small and medium-sized enterprises for apprentices.

An additional $10 million is being allocated over two years for the Skilled Trades Awareness and Readiness Program in 2024-2025 to encourage Canadians to prepare for careers in the skilled trades.

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