Canadian PM Carney announces multibillion-dollar plan to cut food costs

Canadian Prime Minister Mark Carney has unveiled a multibillion-dollar package of measures aimed at easing the rising cost of food and other essentials for low-income families, as pressure mounts on his government to tackle affordability concerns. At a news conference on Monday, Carney announced a five-year, 25 percent increase to the federal Goods and Services Tax (GST) credit, beginning this year. The credit is being renamed the Canada Groceries and Essentials Benefit and is expected to provide additional support to more than 12 million Canadians.In addition to the permanent increase, the government will introduce a one-time top-up in 2026 equivalent .

Written by Adeyemi Adewale