Chrystia Freeland’s federal budget will tackle high cost of living: sources via torontostar
OTTAWA — The Liberal government is set to offer about $3 billion over five years in tax credits to boost Canadian clean technology investments, and 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.” Add to that, she said, inflation is “a tax on the poor the most, those with the least wiggle room” in their budgets, who are most affected by rising costs for fuel, food and shelter.
The GST tax credit is means-tested using household tax filings, and the government expects an eligible single person with no children would receive a one-time payment of up to $234, a couple with two children would get up to $467 and a senior citizen could receive about $225. NDP Leader Jagmeet Singh took credit for pushing the government on the GST rebate, and said he still wants confirmation of the government’s dental care plans to extend coverage to seniors, people living with disabilities and those 18 and under. “We really want this budget to save money for people and that’s something really important to us.”
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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