2026 Federal budget delivers financial relief for struggling Canadians and greater consumer protection

TORONTO, Nov. 9, 2026 /CNW/ -- Prosper Canada applauds measures announced in the 2026 Federal Budget to make life more affordable for struggling Canadians, end homelessness, better protect consumers, and simplify tax filing to enable more people to access critically needed income benefits and tax credits.

"This Budget delivers real and immediate help to vulnerable Canadians not only in the form of more income, but also vital investments in housing, health, and community supports that will strengthen communities and improve lives," said Prosper Canada CEO, Elizabeth Mulholland. "We were also delighted to see important measures to better protect financial consumers and promote more competition in the financial services, telecommunication, and grocery sectors to bring down consumer costs."

Through its Resilient Futures¹ program and national network of 97 community nonprofit partners providing tailored financial help to people with low and modest incomes, Prosper Canada has a unique window into the growing financial challenges of financially vulnerable households. In the period January 1, 2025, to March 31, 2026, Resilient Futures provided tax filing, benefit assistance, and financial education and counselling services to over 162,000 individuals and connected them to more than $609 million in new income. A further 377,000 individuals accessed Prosper Canada online financial help tools.

Measures including the one-time 2027 Canada Groceries and Essentials Benefit Supplement, like the 50% top up of the Canada Groceries and Essentials Benefit, expanded eligibility and support through the Build Canada Worker Benefit, and making the Caregiver Credit fully refundable will put more money in the pockets of struggling Canadians, and lift more people out of poverty.

Prosper Canada also welcomes the government's renewed commitment to introduce automatic tax filing for people with low incomes and simple tax situations who do not owe money but have missed filing. Together with pre-filled tax forms and new measures to reduce the paperwork required to claim the Medical Expenses Tax Credit, Home Accessibility Tax Credit and other tax credits, these measures will help to remove barriers currently preventing many struggling individuals from accessing all the income they should be receiving.

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¹ Resilient Futures is funded by Employment and Social Development Canada's Social Development and Partnerships Program.

Budget measures aimed at strengthening competition in the grocery, telecommunication, and financial service sectors and bolstering consumer protection and recourse will further help to:

• reduce costs for low- and modest-income households;
• combat fraud, scams, online predation, economic abuse, and excessive fees; and
• make it easier for consumers to access transparent, timely, and more consistent complaint handling and recourse when rules are not followed or they are victims of frauds, scams, or economic abuse.

For these measures to deliver their intended results, consumers and the organizations serving them must have a meaningful role in shaping their design and implementation. Prosper Canada is, therefore, concerned that the 2026 Budget did not address the imminent loss of federal support for consumer participation in policy and regulatory processes. With the termination of Innovation, Science, and Economic Development Canada's Consumer Protection Initiative in March 2027, the federal government will no longer be providing any support to consumer organizations, despite relying heavily on their feedback to inform a wide array of policy and regulatory work.

"The handful of organizations that currently speak for consumers across Canada are already straining to keep up with proliferating requests from federal policy makers and regulators. The withdrawal of the last remaining source of federal funding support will only make this situation worse," said Mulholland. "We look forward to working with fellow consumer organizations and the Government of Canada to resolve this issue and ensure consumers continue to have a voice in the decisions that will impact them."

About Prosper Canada

Prosper Canada is a national charity driving bold change that enables more people to prosper. With government, business, and community partners across Canada, we are expanding life-changing financial empowerment services, innovating for greater inclusion and impact, and removing barriers to financial well-being for people with low and modest incomes. Our goal is a Canada where everyone has the opportunity and support to achieve financial well-being and live with dignity, stability, and possibility.

SOURCE Prosper Canada

Media contact: Wendy Abbott-Serroul, Director, Marketing and Communications, [phone], [e-mail]