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Canada Announces Measures to Combat Rising Food Costs
The 25% GST credit increase will provide up to $1,890 annually for families and help more than 12 million Canadians facing 6.2% food inflation, officials said.
- On Monday, Prime Minister Mark Carney unveiled the Canada Groceries and Essentials Benefit at an Ottawa grocery store, announcing a 25% temporary GST credit boost for five years and a one-time 50% payment by June.
- Statistics Canada reported food inflation at 6.2 per cent in December, outpacing overall inflation at 2.4 per cent, while Carney said essentials have been 'too high for too long' due to pandemic, trade shocks, and climate change.
- More than 12 million Canadians are expected to benefit, including about 500,000 people not currently receiving the GST credit, with total benefits reaching $500 for a single person this year.
- As MPs returned to the House of Commons, legislation to implement the benefit is expected in the coming weeks, with Conservatives calling it inadequate and NDP MP Alexandre Boulerice calling it a good start.
- Payments will be delivered quarterly beginning in July, and the package adds $500-million from the Strategic Response Fund, a $150-million Food Security Fund, immediate expensing for greenhouse producers, and unit-price labelling by the Competition Bureau.
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Canada’s prime minister Mark Carney announces plans to slash food and grocery prices
Canada’s prime minister Mark Carney yesterday announced a series of measures aimed at lowering food and grocery costs for low-income families grappling with rising living expenses, including the expansion of a tax credit on food products.
·Ireland
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Carney Announces New Tax Benefit and Measures Aimed at Lowering Grocery Costs
Prime Minister Mark Carney has announced a 25 percent increase to the GST credit and a list of measures that he says will aid lower-income consumers in coping with the steep costs of groceries. The new credit, dubbed the Canada Groceries and Essentials Benefit, will be sent out to approximately 12 million eligible Canadians for the next five years beginning in July. The 25 percent GST credit boost comes with an additional one-time payment this y…
·New York, United States
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Total News Sources112
Leaning Left48Leaning Right9Center13Last UpdatedBias Distribution68% Left
Bias Distribution
- 68% of the sources lean Left
68% Left
L 68%
C 19%
13%
Factuality
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