From Global News.

Canadian Prime Minister Mark Carney, alongside Ontario Premier Doug Ford and Toronto Mayor Olivia Chow, made an announcement in Etobicoke, Ont., on Monday, promising more housing and transit in Ontario.

The federal government and the province of Ontario agreed to each provide $4.4 billion to help build local infrastructure over ten years.

It also includes cutting development charges in half for three years. The money is intended to cover infrastructure costs for municipalities.

"Development charges are the fees that are charged for developers to fund infrastructure like water mains, roads, parks and facilities required to support new homes. And they become, over time, a major hurdle in this housing market. In recent years, they’ve been growing at an unsustainable rate, increasing the cost of every new home, compressing margins for builders," Carney said.

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