Thank you, Mr. Chair.
Earlier, I set the record straight. We weren't talking about billions of dollars invested in housing. We were talking about $150 million for the program and the 2,200 homes. It's important to set the record straight, because you're always saying that people are following our work. Well, they need to be given the correct information.
I'll continue my speech. The federal government respects this provincial priority. We respect that, and I am sure Mr. Thériault agrees on this point. The government is taking steps to facilitate matters, as Canadians expect, within the framework of co-operative federalism. I also think it is worth reminding Canadians that the condo conversion program, which brings us together today, has not even been finalized yet. The Government of British Columbia has indicated that the details will be available in the coming weeks. We do not yet have the details.
Instead of waiting for these details, instead of waiting until we have the full picture so that we can all discuss it, the Conservatives have decided to drag us into an emergency meeting and tear us all away from the work we are doing in our ridings. When the House is in session, there are things we do not have time to do in our ridings. Right now, we are here in Ottawa. As I have told you before, I will always come when it's time to be here in Ottawa. I worked very hard to be elected in Rivière-des-Mille-Îles, and I will always do the work that needs to be done and that I have been asked to do.
Today, I am convinced that they are once again fishing for information so they can spread disinformation about this proposal. There is no mystery as to the reasons behind this impatience. They are actively trying to pre-empt the final details, because they want to give people an inaccurate picture of what is actually happening. We can see that this is the case, because inaccurate statements—which have already been clarified by the Canadian and British Columbia governments—are being deliberately repeated.
We have before us a letter from Minister Robertson, which all members of the committee have received, explaining all of this. In his letter to the committee, he states very clearly that these condos are being purchased in bulk at a reduced price. He states very clearly that the federal government's contribution represents a relatively modest part of the program, namely $150 million, which comes from Build Canada Homes. The opposition continues to show a complete disregard for the details that have been made public. We keep hearing about developers in downtown Vancouver. The Premier of British Columbia has made it clear: These are not condos in Vancouver. They are condos in British Columbia, across the whole province. The Conservatives continue to suggest that this is driving up prices, even though the properties are being purchased at a reduced price.
Finally, they continue to cite the interests of developers, even though the developers themselves—notably Wesgroup Properties, Goodman Commercial and the Urban Development Institute—have made it clear that they do not regard this program as one from which they would benefit. There is something the Conservatives are not telling us. We are not hearing anything about the 2,200 families and individuals who will gain access to affordable housing and a pathway to home ownership thanks to this proposal. As the minister stated in his letter, we have a choice to make. We can take urgent action, or we can follow the approach suggested by the Leader of the Official Opposition in his recent social media posts and do absolutely nothing. Thanks to this program, we have the opportunity to house people in homes ready for occupation—properties that are currently vacant—while people across the province are looking for a place to live.
We have the opportunity to offer thousands of people a path to home ownership through a proposed rent-to-own scheme that is currently under discussion. Where is the Conservatives' social media video about these more than 2,200 households? Where is their plan to house these people? Their proposal is to do nothing and wait for years, hoping the problem will sort itself out. That is not how we respond to a crisis. We are in a crisis. We are taking bold action, thinking outside the box and finding creative solutions.
If the Conservatives' priority is to play political games and post on social media, they're just criticizing from the sidelines. That is really nothing new. If their priority is to provide people with housing, let them take action now. As the Conservatives have no concrete plan to tackle the housing crisis, and no solution to offer other than doing nothing, they are reduced to insinuations, empty accusations and slander.
Colleagues, we are here today because a political party wants to play partisan games, spread disinformation and claim that it is considering a proposal that has not even been fully presented to the public yet. That is not how we set about putting things right; that is not how we solve problems. For our part, we remain focused on delivering results for Canadians. We have delivered results, and this is something the Conservatives are keen to ignore. In British Columbia and Ontario, we have announced measures aimed at reducing development costs in municipalities by up to 50% or more.
When we're out doing our work in our ridings, what do we hear? Cities specifically want us to invest in sewer and water systems, amongst other things, to support housing construction. This will result in savings of up to $40,000 per home in British Columbia and will enable the roll-out of infrastructure that supports housing, such as water and sewer systems and local roads for the provinces. This is precisely what the cities are asking for.
Indeed, a CMHC report dated June 2 confirmed that reducing or eliminating development costs could increase the number of viable housing projects by up to 14% in certain cities. In Quebec, we have announced billions of dollars' worth of infrastructure investment over the last six months to support housing. These investments directly support the expansion of communities and neighbourhoods by providing the roads and water supply systems they need to build homes. That is what I was referring to earlier. I would like to point out that this agreement was concluded recently. The Government of Quebec will receive $10 billion to move these projects forward.
Build Canada Homes, which Parliament transformed into a full-fledged Crown corporation last month, has been working tirelessly over the past year. More than 11,000 homes have been announced across all regions of the country. We have abolished the GST on the sale of new homes to first-time buyers.
We have been able to work with the Province of Ontario to extend this measure further. The Government of Ontario estimates that this measure will provide $2.2 billion in tax relief, support 8,000 additional housing starts next year, create up to 21,000 jobs and contribute $2.7 billion to Ontario's gross domestic product.
Through measures such as the apartment construction loan program, we are ensuring that the necessary funding is available so that we can continue to build apartment blocks. This helps Canadians find work and contributes to keeping rents affordable. Indeed, according to the June 2026 rent report, the median asking rent in Canada fell by 4.7% year over year in May, marking the 20th consecutive month of year over year decline.
We are working very hard. On March 3, the government announced $157 million in funding to help build 388 secure rental homes in Burnaby. This will consist of two towers providing a total of 388 homes for families, older people and individuals in Burnaby. This followed an announcement in February of more than $55 million in combined funding to build 116 secure rental homes.
On May 14, we announced over $52 million in funding for Killam Apartment REIT to help build 128 secure rental homes in Waterloo. This is a six-storey residential building with retail space on the ground floor.