Some Canadians are set to get a top of on the GST rebate that is aimed at tackling the price of groceries, Prime Minister Mark Carney said while announcing a slew of affordability measures in Ottawa on Monday.
The federal government is raising the existing GST credit amount by 25 per cent and providing a one-time payment “equivalent to 50 per cent of the GST credit this year,” Carney said, billing it as the Canada Groceries and Essentials Benefit.
He said that “will deliver hundreds of dollars more into the bank accounts of more than 12 million Canadians.”
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However, he did not specify what the eligibility criteria for the rebate will be.
Ottawa is also launching a new National Food Security Strategy, which will include measures around unit label pricing, which Carney said will allow Canadians to “compare easily” between products.
The strategy will provide support for the Competition Bureau in “monitoring and enforcing competition in our market” and introduce measures to strengthen food security in Canada’s north.
The suite of measures also includes a $20 million top up for food banks.
Carney added that Ottawa will invest $500 million in a fund to help food businesses expand and strengthen their supply chains.
More to come.
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