Minister Thompson highlights Budget 2026 investments to make life more affordable for Canadians

ST. JOHN'S, NL, Nov. 9, 2026 /CNW/ -- At a time when many Canadians are feeling the pressure of higher everyday costs, making life more affordable is a top priority. From housing and groceries to transportation and energy, rising expenses make it harder for households to make ends meet and feel financially secure.

Budget 2026: Masters of our destiny takes action to ease these pressures, providing practical support for Canadians today while investing in a stronger future for families and communities.

Today, the Honourable Joanne Thompson, Minister of Fisheries, met with the Community Food Sharing Association in St. John's to highlight key affordability measures from Budget 2026. The investments support Canadians at different stages of life, from families managing household expenses, to those seeking affordable housing, essential services, and new opportunities.

Putting more money in Canadians' pockets and improving access to benefits:

• Up to $339 for a single person without children and up to $679 for a couple with two children will be provided to Canadians by enhancing the Canada Groceries and Essentials Benefit with a one-time 50% increase for the 2026-27 benefit year, delivered in early 2027.
• The most ambitious effort in a generation to improve Canada's tax system will make it easier for Canadians to file their taxes and access the benefits and tax relief they are entitled to.
• Up to 5.5 million low-income Canadians will have easier access to federal benefits through automatic benefits and pre-filled returns.

Making housing, energy, and essential services more affordable:

• A long-term housing strategy, providing nearly $45 billion on a cash basis over the next 11 years. Budget 2026 puts Canada on a path to end homelessness within 10 years while expanding non-market housing and building a housing market that works for all.
• A $2 billion investment will help up to 820,000 households switch to heat pumps and support home retrofits thanks to the new National Heat Pump Rebate. Together with other measures to improve energy efficiency, including retrofits in multi-unit residential buildings, these investments are projected to reach up to one million homes and save Canadians more than $1 billion a year on energy bills once fully implemented.
• $1.2 billion in 2027-28 to extend mental health, addictions, and home and community care agreements will help more Canadians access the care they need regardless of their ability to pay.
• $610.3 million over four years, starting in 2027-28, is being invested to ensure that Nutrition North Canada can maintain and expand its essential supports, helping lower the cost of imported foods and supporting food harvesting in northern communities.

Creating opportunities and strengthening financial security:

• An estimated 240,000 people will be lifted out of poverty through the new Build Canada Workers Benefit, keeping more money in workers' pockets.
• 175,000 young Canadians are gaining opportunities this fiscal year to earn money and develop work-ready skills through Canada Summer Jobs, the horizontal Youth Employment and Skills Strategy, and the Student Work Placement Program.

Budget 2026 builds on the Government of Canada's commitment to making life more affordable and help Canadians get ahead. From putting more money in people's pockets to improving access to housing, care and other essential services, these measures are designed to make a real difference in people's everyday lives – because every Canadian deserves the opportunity to make ends meet and build a secure future for their families.

Quotes: 

"Being masters of our destiny is about having the confidence to build on our strengths and shape our own future. Canada has the resources, talent, and ambition to succeed. Budget 2026 builds on those strengths by unlocking investment, building more at home, strengthening our energy and natural resource advantage, and helping Canadian businesses grow and compete on the world stage. That's how we will create good jobs, make life more affordable, and build a stronger, more resilient, and more united Canada for generations to come."

- The Honourable François-Philippe Champagne, Minister of Finance and National Revenue 

"We know that the cost of everyday essentials are rising. It affects household budgets and families' ability to plan for the future. That's why Budget 2026 reflects our commitment to making life more affordable today, as we build an even stronger future for Newfoundland and Labrador."

- The Honourable Joanne Thompson, Minister of Fisheries 

Associated links:

• Budget 2026: Masters of our destiny

SOURCE Fisheries and Oceans (DFO) Canada

Media may contact: Ira Khedkar, Press Secretary, Office of the Minister of Fisheries, [e-mail]; Media Relations, Fisheries and Oceans Canada, 613-990-7537, [e-mail]