Intro – Canada’s PM Justin Trudeau announced new measures to address multiple issues. Further details are available in the article.
Canada has been facing several pressing issues, including rising grocery prices, the housing crisis, and challenges faced by small business owners. To address these problems, the Prime Minister of Canada, Justin Trudeau, recently announced a series of new measures. These measures aim to provide solutions for Canadians struggling with the high cost of living and economic instability.
The PM presented a set of rules and measures to tackle these problems, which include increasing government support for small businesses, implementing policies to improve affordable housing, and finding ways to reduce the cost of groceries. These steps are a significant effort by the Canadian government to mitigate the effects of the ongoing challenges faced by its citizens.
To Tackle Housing Crises in Canada
Here is how the govt will assist its citizens with the housing-related problems:
Legislation will be presented to repeal the Goods and Services Tax (GST) on new apartment buildings for renters in order to promote the construction of much-needed rental dwellings.
Using the tool mentioned can ensure that homes are built to meet family needs. It provides insights and resources for professionals involved in the construction process, identifying design trends and eco-friendly materials. This tool creates comfortable and sustainable homes for families.
The federal government is suggesting that provinces that currently impose provincial sales taxes or the provincial portion of the Harmonized Sales Tax (HST) should consider providing the same refund for new rental homes as the federal government.
Eliminating exclusionary zoning policies and promoting apartments near public transportation can increase affordable housing options, diversity, and inclusive communities. It also reduces traffic congestion, improves air quality, and promotes a sustainable and equitable future.
To Support Small Business Proprietors
On September 14, 2023, the PM also announced how the government will assist the business owners and their employees.
- Small businesses that received loans through the Canada Emergency Business Account (CEBA) program will now have an extra year to repay them, thanks to adjustments made by the federal government. The program was initially launched during the pandemic to provide support to struggling small businesses.
The adjustments made by the federal government to the Canada Emergency Business Account (CEBA) program will be of great help to small businesses that are still struggling due to the pandemic. With an extra year to repay their loans, these businesses can better manage their finances and focus on their operations.
It is heartening to see the government recognize the challenges faced by small businesses and take steps to support them during these difficult times. This move will undoubtedly provide some much-needed relief to the small business community.
To Prevent Grocery Proces From Rising
In an effort to address the increasing cost of groceries, the Prime Minister has summoned the leaders of Canada’s major grocery chains for an urgent meeting in Ottawa. The aim of the meeting is to initiate talks toward achieving this objective.
These grocery chains are being encouraged to maintain stable grocery prices in the near term.
The government is taking a proactive approach to address the issue of rising grocery prices. They are exploring all possible solutions, including potential tax measures, in order to ensure that Canadians can afford the food they need.
The government understands the importance of grocery price stability and is committed to meeting the expectations of its citizens. It is reassuring to see that they are taking this matter seriously and working towards a solution that benefits everyone.
Furthermore, the Canadian government is committed to taking immediate action to promote competition in the Canadian economy, particularly in the grocery sector, with the aim of reducing costs for the middle class.
Canada’s Competition Act Amendments 2023
The Competition Act of Canada is set to undergo its first round of legislative amendments by the government in order to:
- To conduct thorough and effective market analyses, the Competition Bureau should be granted the power to demand the submission of relevant materials.
- The current system of the efficiencies defence should be eliminated, as it enables anti-competitive mergers to withstand challenges if the benefits to the company outweigh the harm to competition, even if it means Canadian consumers have limited choices and higher prices.
- Grant the Bureau the authority to address alliances that hinder competition and limit customer options, especially when major supermarket chains prevent smaller competitors from establishing a presence in the area.
Here is everything about the Canadian PM’s latest announcement. For regular updates on immigration policies and the latest Canada news, stay connected with the Baiscs of Immigration.