MARKSTAY, ON, Nov. 13, 2026 /CNW/ -- In a world reshaped by geopolitical competition, protectionism and rapidly evolving technologies, Canada stands apart. Our abundant natural resources, clean and reliable energy, world-class talent, strong public finances, and access to global markets give us a clear competitive advantage.

These foundations are already translating into results: investment is growing, major projects are being built, and businesses are reaching new markets at home and abroad. Budget 2026 keeps Canada on a path to meet both fiscal anchors: balancing day-to-day operating spending with revenues by 2027–2028, a full year ahead of schedule, and keeping the deficit-to-GDP ratio on a declining path.

Today, Pauline Rochefort, Parliamentary Secretary to the Secretary of State for Rural Development, highlighted key investments related to affordability from Budget 2026: Masters of our destiny. Parliamentary Secretary Rochefort discussed a number of measures, including enhancements to the Canada Groceries and Essentials Benefit, easier access to federal benefits through automatic benefits and pre-filled returns, and the new Build Canada Workers Benefit.

It is an ambitious plan to meet this moment and shape Canada's economic future: building on our strengths, driving investment, boosting productivity, diversifying our trade, creating good jobs, and making life more affordable for Canadians.

Budget 2026 catalyzes growth:

• It mobilizes private capital, accelerates Canada's Investment Supercycle, and sets the stage for long-term growth and a stronger, more sovereign Canada.
• It introduces measures to improve competitiveness that will help Canadian businesses, startups and innovators scale and commercialize at home, while the Canada Growth Incentive will mobilize more Canadian capital behind Canadian companies.
• It proposes major tax policy changes, the new Productivity Mega Deduction and the Canada Strong Fund to help make Canada the destination of choice for global investors.
• It provides funding for the National Electricity Strategy to double grid capacity by 2050 to meet growing demand, while accelerating electrification, grid modernization and clean power expansion.
• It makes investments in nuclear energy and critical minerals that will create high-paying jobs for Canadians, grow exports and strengthen Canada's position as a global energy superpower.

Budget 2026 delivers for people:

• It puts Canada on a path to end homelessness in 10 years, in coordination with municipalities, provinces and territories.
• It enhances the Canada Groceries and Essentials Benefit with a 2027 supplement and expands Nutrition North Canada to lower the cost of food for Canadians.
• It introduces the new Build Canada Workers Benefit, which is expected to help lift approximately 240,000 people out of poverty by allowing workers to keep more of what they earn.
• It makes it easier for up to 5.5 million low-income Canadians to access federal benefits through automatic benefits and pre-filled tax returns.
• It makes the Canada Caregiver Credit fully refundable, helps Canadians get a better deal on their mortgage, and cuts monthly energy bills by supporting one million energy-efficient home retrofits.
• It also takes major steps to tackle long-term pressures by building more homes, strengthening competition across the economy, and recruiting and training the workers Canada needs for the future.

Budget 2026 also strengthens Canada's sovereignty:

• It includes initiatives to support Canadian arts, culture, heritage and journalism through a flagship Canada 160 Fund, a renewed Canada Strong Pass, permanently free admission to national museums for children and youth under 25, and $1.5 billion to expand, retrofit and rehabilitate ice rinks and recreational facilities across the country.
• It protects Canada's natural wealth through the Nature Strategy and advances reconciliation with Indigenous Peoples through more than $50 billion in investments.
• It strengthens our sovereignty and defence capabilities, supports our Canadian Armed Forces members and their families, and helps ensure Canadians feel safe in their communities, at home, and online.

Quotes

"Canada has the resources, talent and ambition to succeed—and a lot of that is found in rural Canada. Budget 2026 builds on those strengths by unlocking investment, making groceries and everyday essentials more affordable, investing in housing and infrastructure, and supporting local businesses and good jobs. From northern Saskatchewan to rural Ontario, we're making sure Canadians in communities big and small have the support they need to get ahead and build for the future."

– The Honourable Buckley Belanger, Secretary of State for Rural Development

"Budget 2026 builds on Canada's strengths to create a stronger economy while making life more affordable for Canadian families. Our government is taking concrete action: strengthening the Canada Groceries and Essentials Benefit, making federal benefits easier to access and helping workers keep more of what they earn. These are practical steps to put more money in people's pockets and give families in Ontario and across the country a fair chance to get ahead."

– Pauline Rochefort, Parliamentary Secretary to the Secretary of State for Rural Development

Quick facts

Despite a challenging global environment, the Canadian economy has shown resilience:

• Canada's economy grew by 3.3% in the second quarter, the fastest pace in the G7.
• The International Monetary Fund expects Canada to be the second-fastest-growing economy in the G7 in 2027.
• Canada is expected to maintain one of the lowest deficit-to-GDP ratios in the G7, signalling fiscal strength and the capacity to invest in the future.
• More Canadians are benefiting from labour market strength. Over the past year, Canada's economy has added 214,000 jobs in private employment, while the unemployment rate has fallen to 6.5%, near its lowest level in two years.
• Since the end of 2024, Canada has created nearly twice as many jobs per capita as the United States.
• Rising productivity is helping lay the foundation for stronger wage growth and higher living standards, with productivity increasing by 1.2% over the last year, compared with average growth of just 0.1% following the pandemic.
• Foreign direct investment in Canada is at its highest level in nearly two decades. Canada attracted $98 billion in foreign investment in 2025 and has led the G7 in direct investment inflows per capita since early 2025.
• Canada has the lowest tax burden on new investment in the G7, encouraging businesses to invest, innovate and grow in Canada.
• Nominal goods and services exports to countries other than the United States increased by $33 billion in 2025 and are on pace to rise by a further $57 billion in 2026, as more Canadian businesses reach new markets.
• Canada is the only G7 country with free trade agreements with every other G7 member. Through 15 agreements in force covering 51 countries, Canadian businesses already have preferential access to 1.5 billion consumers and economies representing two thirds of global GDP.
• Measures to make life more affordable are working. The share of household income needed to cover housing costs has fallen by roughly a quarter, asking rents have dropped for two consecutive years, and the average cost of child care has fallen around 30% nationwide since 2019.

Associated links

• Budget 2026: Masters of our destiny
• Spring Economic Update 2026: Canada Strong For All
• Technical Backgrounder: Government of Canada introduces the new Canada Strong Fund to give Canadians a stake in what we build
• Backgrounder: Mortgage Insurance Rule Changes to Support "Missing Middle" Housing
• Action plan: Powering Canada Strong: From Strategy to Action
• Policy Statement: Canada's National Anti-Fraud Strategy

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SOURCE Innovation, Science and Economic Development Canada