Addressing the financial squeeze Canadians are facing will be top of mind for my government.

 

I will take urgent action to ease the burden through tax cuts on income and new housing, capping credit card interest rates, combatting big grocers' excess power, and building more child care spaces.

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If I become Prime Minister, my government will deliver real savings to you. Here is how I will do it:

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1. Cut income taxes for over 11 million middle class Canadians. Within my first year as Prime Minister, my government will cut the second income tax bracket rate from 20.5 per cent to 19 per cent, saving Canadians $550 per year, or $1,100 for a couple.

    

2. Eliminate the GST on new homes for first-time home buyers, to save them up to $75,000. To help younger Canadians become homeowners, my government will remove the federal tax on new homes worth up to $1.5 million for first-time buyers. This will both cut costs for new buyers and incentivize more of the new home construction Canada urgently needs.

    

3. Immediately cap credit card interest rates at 15 per cent, and work towards a 10 per cent cap. Lowering credit card interest rates in half will help Canadians avoid spiralling debt cycles and pay off their credit card sooner, while saving on interest charges. This follows the precedent-setting bipartisan bill introduced in the U.S. Senate this month to cap credit card interest rates at 10 per cent.

    

4. Lower grocery prices and tackle excess power of big grocers by:

   • Capping profit margins on essential groceries such as eggs, milk, fruits and vegetables, canned goods, and baby formula and making shrinkflation illegal;

   • Overhauling the Competition Bureau to equip it with real power to safeguard competition, end deceptive behaviour, and impose zero-tolerance for bad actors;

   • Breaking up grocery oligopolies to bring real competition to the grocery market by banning grocers from owning the entire supply chain from wholesalers to processors and distributors; and,

   • Offering low-cost financing to attract new, independent grocers, and considering opening the market to foreign grocers (excluding American grocers).

    

5. Build 100,000 more $10-a-day child care spaces. My government will expand $10-a-day child care to save more families up to $14,300 per child, per year by:

   • Requiring new or renovated federal office buildings to build child care spaces; and,

   • Offering new or renovated space in federal buildings to non-profit providers free of charge, and lowering existing rents for non-profit providers to zero dollars within sixty days.

 

My government will use tax dollars responsibly. I will pay for these measures by reducing the cost of running government–without cutting the benefits and services Canadians count on. This means cutting red tape, streamlining how government does business, and leveraging new digital and AI tools to deliver benefits and services to Canadians, faster and better.

 

I will cut taxes for the middle class, including for Canadians buying that first home. And I will cut the costs of credit card debt, groceries, and child care for all Canadians. Meanwhile, Pierre Poilievre will cut essential programs, like child care and dental care. But we can stop him–join me, join the fight.