Breaking: Chrystia Freeland’s federal budget will tackle high cost of living, sources say
OTTAWA—The federal government is set to offer about $3 billion over five years in tax credits to boost Canadian clean technology investments, and to spend $2.4 billion to help low- and middle- income households with the high cost of living, the Star has learned.
“That’s why a big part of the budget will be focused on measures to help Canadians in targeted ways. Groceries will certainly be part of it. But there’s other things as well that we’re going to continue to do to be there for Canadians.” However, a one-time $500 top up to a rental housing benefit that was also brought in last fall and that expires at the end of March will not be renewed, a source said.
It is a measure expected to cost $3 billion over five years. In the burgeoning critical minerals sector, where Canada hopes to accelerate production, it would apply to the extraction and processing of critical minerals for use in EVs and other areas.
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