Federal Budget: Mark Carney Unveils Key Measures to Lower the Cost of Living
Prime Minister Mark Carney Unveils Budget Measures to Ease Cost of Living for Canadians
Permanent National School Nutrition Program Announced
In a move aimed at reducing the cost of living for Canadian families, Prime Minister Mark Carney has announced that his government will make the national school nutrition program permanent. Initiated by former Prime Minister Justin Trudeau, this program was originally set to end in three years. Currently, Ottawa contributes approximately $200 million annually by establishing funding agreements with provinces that manage the program.
This initiative has successfully provided meals to an additional 400,000 children each year since its inception two years ago. “In Canada, no child should attend school hungry or sit in class wondering when their next meal is,” said the Prime Minister. By extending this program, families with two children save around $800 annually on groceries, according to Carney.
New Tax Filing Services for Low-Income Families
The Prime Minister also announced that the Canada Revenue Agency (CRA) will begin offering simplified tax filing services for low-income families with straightforward tax situations. This measure, set to benefit 5.5 million people, will be gradually implemented starting in 2026 and fully active by 2028.
Far too often, lower-income individuals neglect to file their tax returns, resulting in missed federal benefits. These benefits include the GST/HST credit and the Canada Child Benefit, among others. “Millions of low-income Canadians do not file their tax returns because they either lack the necessary resources or feel their income is too low to matter. Consequently, those who need benefits the most often do not receive them,” remarked the Prime Minister.
Inspiration from Germany: Innovation in Tax Services
This new service draws inspiration from Germany, which has offered similar services for several years, according to Finance Minister François-Philippe Champagne, who accompanied the Prime Minister for the announcement at a Nepean school near Ottawa. “We are adopting best practices globally. Among G7 countries, only Germany does this,” Minister Champagne stated.
He emphasized that the CRA is equipped to tackle this challenge despite recent setbacks in the headlines. “I am confident because the technology is available. We will leverage it to make life simpler for taxpayers, and this measure affects millions of Canadians,” said Champagne.
New Budget Cycle and Additional Benefits
Finance Minister Champagne is set to present the budget on November 4 in the House of Commons. In a shift from tradition, he recently announced that Ottawa will switch to a new budget cycle, presenting the federal budget in the fall rather than the spring.
Additionally, the Prime Minister unveiled the renewal of the “Strong Canada” pass for the holiday season and the summer of 2026, which allows free visits to national museums and parks and offers discounts on VIA Rail tickets.
Prime Minister Carney stated, “We are empowering Canadians by helping them move forward and reducing their cost of living. When you can keep more of your earnings, you’re able to care for your family as you wish, participate more in community life, and most importantly, build the future you desire.” Further budget measures are expected to be announced next week.
