UPDATED: Carney pledges $35B to build millions of ‘sustainable’ modular homes

Prime Minister Mark Carney on Monday announced a Liberal housing plan that would spend $25 billion to finance affordable homes with “modern” and “sustainable” technologies.

An additional $10 billion in “low-cost financing” will go to “builders to construct deeply affordable homes for those most in need, as well as housing for students and seniors.”

It did not take long after Carney made his announcement for Tory leader Pierre Poilievre to weigh in — pointing out Carney had apparently lifted promises his predecessor Prime Minister Justin Trudeau made while campaigning in 2025.

Trudeau's promises never came to fruition, and as Poilievre points out — this isn't even Carney's first plagiarism scandal of the election campaign, which has only been underway for about a week.

Carney was recently exposed for 10 counts of plagiarism while at Oxford university.

"This time he ripped off Justin Trudeau’s 2015 housing promises that doubled the cost of owning a home. We can’t afford a 4th term," wrote Poilievre on social media.

The Build Canada Homes plan includes accelerating homebuilding by 50% to “nearly half a million new homes every year” that are both “sustainable and cost less to live in.”

“My new Liberal government is flipping the script on housing with a new approach to build faster, build smarter and to build more affordable,” Carney told reporters at a press conference in Vaughn, ON.

“We're going to unleash the power of public-private cooperation at a scale not seen in generations.”

Carney also promised a Liberal government would over the next five years “cut development taxes on home building in half for all multi-unit housing.”

“That's $40,000 off the cost for the two bedroom apartments just south here in Toronto,” said Carney.

To do this, the Liberals will build “an entirely new entity” that Carney describes as “a lean, mission-driven organization” with wide oversight.

It will “act as a developer on new affordable housing projects,” “catalyze a new housing industry” and “provide financing for affordable home builders.”

“We're getting government back in the business of building affordable homes,” said Carney, adding this will “include building on public lands.”

“We will make good on the promise to unlock federal lands for homebuilding on a post-war scale.”

The Liberal leader said his plan is to build homes Canadians “can afford to buy, homes that are more sustainable and cost less to live in, homes made right here with Canadian ingenuity, Canadian labor, Canadian products, including mass timber.”

“The way we build homes needs to change — prefabricated and modular housing will play a big role in the future,” said Carney.

“They can drive down the time to completion by up to 50%, they're cheaper to build by up to 20% and they're a more sustainable way to build, producing 22% fewer emissions than traditional construction methods.”

Carney said the Liberals are already on-track to reach such goals.

“And the good news is, we're already home to many new, prefabricated housing factories,” he said.

“We want Canada to be the world leader in this new, innovative industry. We should be that leader.”