Canadian Prime Minister Justin Trudeau announced in Guelph, Ontario, a program aimed at building more homes in Canada.

Trudeau, along with Housing Minister Ahmed Hussen, introduced a $4 billion Housing Accelerator Fund. The funding will help cities, towns, and Indigenous communities increase housing supply by accelerating development and approvals.

Local governments are also now invited to develop innovative action plans, aligned with flexible standards, to remove barriers to building more homes faster.

In this regard, Trudeau said: "Our goal is to fast-track the creation of 100,000 new homes and units across Canada.. This is part of our plan to double home building over the next decade.”

The application portal for the Housing Accelerator Fund (HAF) is scheduled to open in June, and Trudeau said every municipality and community is encouraged to apply and action plans will be accepted once the portal opens.