Prosper Canada welcomes Spring Economic Update 2026 measures to improve affordability, expand benefits access, and prevent fraud

TORONTO, April 30, 2026 /CNW/ - Prosper Canada welcomed important new Government of Canada measures to promote consumer protection, affordability, and financial well-being that were announced in the April 28^th, Spring Economic Update 2026. These actions are aimed at improving access to government income benefits, strengthening funding for community tax clinics, implementing the new Canada Groceries and Essentials Benefit, combatting fraud and financial crime, and promoting competition to lower consumer internet and cellular costs.

Prosper Canada and our national network of community partners are front-row witnesses to the growing impact of the affordability crisis on people with low and modest incomes across Canada. More and more families are finding it impossible to make ends meet due to the combined effects of inflation and higher interest rates over the past 5 years. These impacts have been compounded by lack of competition and high consumer prices in the food, banking, and telecommunications sectors and increasing financial fraud, often targeted to the most vulnerable groups – seniors, newcomers, people with disabilities and people with low incomes. These pressures are translating into growing demands for community food, shelter, mental health, and financial help services – demand that community organizations are finding it increasingly difficult to meet.  

With economic uncertainty expected to grow, urgent action is needed to tackle these challenges. Prosper Canada, therefore, welcomed the following measures in the Spring Economic Update 2026:

• Streamlining the application process for the Disability Tax Credit for individuals with certain long lasting medical conditions;
• Expanding the list of medical practitioners who can certify Disability Tax Credit eligibility;
• Investing in Community Volunteer Income Tax Program grants to ensure that people with low incomes have access to the support they need to file their taxes;
• Standing up the Financial Crimes Agency, dedicated to investigating serious and complex financial crimes and recovering the proceeds of crime;
• Banning crypto currency ATMs, shutting down a primary method for scammers to defraud victims and for criminals to launder proceeds of crime;
• Establishment of  a whole-of-government competition plan, including a focus on lower mobile and internet plan prices;
• Implementation of the Canada Groceries and Essentials Benefit starting in June 2025, providing more income for lower income households to address rising costs.

"As affordability pressures continue to grow, more people are struggling to keep up with the cost of everyday life and to protect themselves from a growing range of frauds and scams," said Elizabeth Mulholland, CEO of Prosper Canada. "These measures to strengthen and streamline access to income benefits, fight fraud and financial crime, and promote more competition and lower prices are a great start and will help financially vulnerable Canadians working to build financial stability in these challenging times." 

Prosper Canada looks forward to continuing to work with the Government of Canada, community partners, and the financial sector to build a more inclusive financial ecosystem that removes barriers, improves access to trusted financial help, and supports more people with low and modest incomes to build their financial stability, resilience, and health.

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.
Learn more at www.prospercanada.org

SOURCE Prosper Canada

MEDIA CONTACT: Wendy Abbott-Serroul, Director, Marketing and Communications, 416-993-6409, [email protected]