The estimated domestic need "vastly exceeds" current investment in the sector, which averaged about $2 billion per year from 2018 to 2023, the report said.

A drop of $1.2 billion in permit values in British Columbia led to the national decline, and overshadowed a gain of just under $300 million in activity in Ontario.

Carney said it has become too hard to build new projects in Canada and vowed that this bill will change that.

The report says the delay in progress is mainly due to a lack of funding.

The most recent report from the provincial agency now includes a listing of capital repairs projects and a list of projects in the transit-oriented communities program.