MISSISSAUGA, ON, Nov. 9, 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. 

We have the strength to build and the discipline to deliver. 

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 2027-28, a full year ahead of schedule, and keeping the deficit-to-GDP ratio on a declining path.

Today, the Secretary of State for Combatting Crime, the Honourable Ruby Sahota, is highlighting key investments from Budget 2026: Masters of our destiny. These investments will make life more affordable for Canadians by providing immediate help to ease the pressure on household budgets while also building a stronger, more independent, and prosperous economy for all in the future. 

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 catalyses growth: 

• It mobilises 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 commercialise at home, while the Canada Growth Incentive will mobilise 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 Canada Electricity Strategy to double grid capacity by 2050 to meet growing demand, while accelerating electrification, grid modernisation, 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 provides up to $339 for a single person without children and up to $679 for a couple with two children 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. 
• It invests $610.3 million over four years, starting in 2027-28, 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. 
• It supports an estimated 585,000 caregivers with the new refundable Canada Caregiver Credit, recognizing their vital role in helping Canadians remain in their homes and communities.  
• It ensures that up to 5.5 million low-income Canadians will have easier access to federal benefits through automatic benefits and pre-filled returns. 
• 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. 
• Nearly 22 million Canadians are already keeping more of what they earn, with the middle-class tax cut saving a two-income family up to $840 this year.
• Gas prices fell by about 18 cents per litre across most provinces and territories following the removal of the consumer carbon price, and drivers are now saving up to 10 cents per litre on gasoline and 4 cents on diesel through the temporary suspension of the federal fuel excise tax.
• More than 900,000 children now have access to affordable early learning and child care, helping families save up to $11,255 per child a year— and more child care spaces are on the way.
• Banking has become more affordable, with non-sufficient fund fees capped at $10 and stronger consumer protections. Low-cost and no-cost bank accounts now also offer up to 50% more debit transactions for no more than $4 per month.
• 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 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:  

 "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  

"Canada is facing a moment of profound change that challenges our economy, our sovereignty and the essence of our collective identity. Through Budget 2026, we are investing in strengthening our foundations at home and giving Canadians the opportunity for a better life. That means lowering the cost of living, making it more affordable to buy a house, and ensuring no Canadian is forced to sleep on the street because they don't have a place to call home. Canada is ready to seize this moment and shape our future on our own terms."

 - The Honourable Ruby Sahota, Secretary of State for Combatting Crime

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 IMF 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 also 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 
• Technical 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 Public Safety and Emergency Preparedness Canada (PSEPC)