Some Canadians will get GST credit top up to tackle grocery costs: Carney

Prime Minister Mark Carney said on Monday while announcing a slew of affordability measures in Ottawa that some Canadians are likely to receive a top-up on the GST rebate that is intended to reduce the price of groceries. According to Carney's statement, the Canada Groceries and Essentials Benefit will provide a one-time payment "equivalent to 50% of the GST credit this year" while simultaneously increasing the amount of the existing GST credit by 25%. That "will deliver hundreds of dollars more into the bank accounts of over 12 million Canadians," he stated.

However, he did not specify the rebate's eligibility requirements. Ottawa is also launching a new National Food Security Strategy, which will include measures around unit label pricing, which Carney said will allow Canadians to “compare easily” between products.

The strategy will introduce measures to improve food security in Canada's north and support the Competition Bureau in "monitoring and enforcing competition in our market." A $20 million boost for food banks is also included in the package of measures. Carney went on to say that Ottawa will put $500 million into a fund that will help food businesses grow and improve their supply chains. 

More to come.