New Hamburg, Ontario - In a world reshaped by geopolitical competition, protectionism, and rapidly evolving technologies, Canada stands apart. Our abundant natural resources, clean and reliable energy, world-class talent, strong public finances, and access to global markets give us a clear competitive advantage.
These foundations are already translating into results: investment is growing, major projects are being built, and businesses are reaching new markets at home and abroad. Budget 2026 keeps Canada on a path to meet both fiscal anchors: balancing day-to-day operating spending with revenues by 2027-28, a full year ahead of schedule, and keeping the deficit-to-GDP ratio on a declining path.
Today, the Parliamentary Secretary to the President of the King's Privy Council for Canada and Minister responsible for Canada-U.S. Trade, Intergovernmental Affairs, Internal Trade and One Canadian Economy, and Member of Parliament for Kitchener-Conestoga, Tim Louis, highlighted key affordability measures from Budget 2026: Masters of our destiny.
It is an ambitious plan to meet this moment and shape Canada's economic future: building on our strengths, driving investment, boosting productivity, diversifying our trade, creating good jobs, and making life more affordable for Canadians.
Budget 2026 delivers for people:
- It puts Canada on a path to end homelessness in 10 years through a long-term housing strategy, providing nearly $45 billion on a cash basis over the next 11 years.
- It enhances the Canada Groceries and Essentials Benefit with a 2027 Supplement and expands Nutrition North Canada to lower the cost of food for Canadians by providing up to $339 for a single person without children and up to $679 for a couple with two children, with a one-time 50% increase for the 2026-27 benefit year, delivered in early 2027.
- It makes the Canada Caregiver Credit fully refundable for an estimated 585,000 caregivers, helps Canadians get a better deal on their mortgage, and cuts monthly energy bills by supporting one million energy-efficient home retrofits.
- It also takes major steps to tackle long-term pressures by building more homes, strengthening competition across the economy, and recruiting and training the workers Canada needs for the future.
Budget 2026 catalyses growth:
- It mobilises private capital, accelerates Canada's Investment Supercycle, and sets the stage for long-term growth and a stronger, more sovereign Canada.
- It introduces measures to improve competitiveness that will help Canadian businesses, startups and innovators scale and commercialise at home, while the Canada Growth Incentive will mobilise more Canadian capital behind Canadian companies.
- It proposes major tax policy changes, the new Productivity Mega Deduction and the Canada Strong Fund to help make Canada the destination of choice for global investors.
- It provides funding for the Canada Electricity Strategy to double grid capacity by 2050 to meet growing demand, while accelerating electrification, grid modernisation, and clean power expansion.
- It makes investments in nuclear energy and critical minerals that will create high-paying jobs for Canadians, grow exports, and strengthen Canada's position as a global energy superpower.
