TEMPORARY DOUBLING OF GST AND OTHER MEASURES

We know life is getting expensive, and a lot of families have shared with me the challenges they’re living through with the rising costs of everything from groceries, rent, education, power bills, cell phone bills, child care, and more.

That is why Finance Minister Chrystia Freeland released the Fall Economic Statement in the House of Commons that puts Canada on a responsible fiscal path and focuses on economic growth, but also includes other measures that will help people out who are struggling to make ends meet, including:

• Doubling of GST for six months for all who receive it

• A $500 top up for low-income renters who receive the Canada Housing Benefit.

• Developing a new quarterly Canada Workers’ Benefit to deliver advance payments that will put money into the pockets of our 4.2 Million hard working Canadians who have modest incomes.

• New support for low-income families so they can afford to take their kids to the dentist.

• Permanently removing interest on student loans and making sure students don’t need to start repayment until they earn at least $40,000.

• An increase to Old Age Security for seniors at the age of 75 and older.

• Lowering credit card fees for small businesses that will help them avoid further price increases.

We’re focused on growing the economy, but doing it in a way that works for every Canadian and not just the wealthiest members of society.

For more information on these and other measures released yesterday, check out the full Fall Economic Statement here: https://www.budget.gc.ca/fes-eea/2022/home-accueil-en.html