Deputy Prime Minister and Finance Minister Chrystia Freeland has presented a multi-pronged “affordability plan” outlining how the government intends to address inflation, based on pre-existing commitments.
The measures, totalling $8.9 billion in spending this year, include planned boosts to certain benefit programs, as well as the federal government’s child and dental care plans. Freeland also cited “respect” for the Bank of Canada, fiscal restraint, and creating “good jobs,” as measures that will help steer the economy through the current turbulence.
“I’m confident that our plan is the right one, but I do not underestimate the economic difficulties and frankly, the uncertainty of the months to come,” Freeland told the crowd during a noon-hour keynote address at Bay Street’s Empire Club in Toronto on Thursday.
Freeland spoke about the state of the Canadian economy and about the federal government’s next steps as it relates to measures rolling out to eligible Canadians soon.
Specifically, in signalling that the Liberals do not plan to roll out new government spending to address the current cost-of-living crunch, Freeland cited a series of “real and tangible steps” that she promised would “get inflation under control.”
The federal plan meant to improve affordability includes:
The anticipated enhancement of the Canada Workers Benefit that will see the eligible estimated three million full-time, minimum-wage workers receiving up to $1,200 more through their tax return.
The expected cutting of child care fees for Canadian families, estimated at an average of 50 per cent by the end of the year.
The enacting of the longstanding commitment to increase the Old Age Security pension for seniors 75 years and older by 10 per cent, providing more than $766 to full pensioners in the first year.
The issuing of a one-time housing affordability payment providing a $500 payment to nearly one million low-income Canadians this year.
The commitment to enact a dental care program that in 2022 will provide coverage for Canadians who earn less than $90,000, starting with children under the age of 12.
And, the increase expected to a host of other benefits, because they are indexed to inflation. This includes the Guaranteed Income Supplement, Canada Pension Plan, the Canada Child Benefit, and the GST Credit.
The federal government has been under growing pressure to help reassure Canadians who are facing rising costs of living, on everything from gas to groceries.
All of the initiatives cited by Freeland on Thursday, stem from the last two federal budgets. Still, the finance minister suggested that the spending is still “new money for the Canadians receiving it this year.”
“Now, given the uncertainty in the global economy, would it be wise for me to stand here and rule out the need for further support in the future? Of course it would not be. But, many of the most vulnerable Canadians are already receiving more financial support today than they did last year. And they will continue to receive new support in the weeks and months to come,” Freeland said.
In the speech—the first major remarks from Freeland on the topic since the 2022 federal budget was tabled in April—the deputy prime minister painted a picture of where Canada stands compared to other countries.
“If the data is so rosy, if the rebound is so strong… Why don’t we feel very good? Why are Canadians so worried? I think everyone here knows the answer: inflation,” Freeland said. “Jobs are plentiful, business is booming, but it is also harder for a lot of Canadians to pay their bills at the end of the month.”
While referencing the state of this country’s jobs recovery, GDP growth and the low unemployment rate, she also noted the need to be fiscally responsible and not further inflame inflation rates.
She also said cited the impacts of the COVID-19 pandemic and the ongoing Russian invasion in Ukraine as key pressure points contributing to the current economic situation.
“Inflation is not a made-in-Canada challenge and it’s actually less severe here than among our peers,” Freeland said.
Amid heightened attention on the role of the Bank of Canada’s efforts to combat inflation, Freeland made reference in her remarks to the importance of the central bank’s independence.
She also called out those who may be undermining the institution—something Conservative leadership candidate Pierre Poilievre has been accused of—as being “highly irresponsible, not to mention, economically illiterate.”
The opposition parties were quick to pounce on the deputy prime minister’s remarks, with NDP Leader Jagmeet Singh—the Liberals’ key ally in a supply and confidence deal—said the plan shows the government doesn’t understand the reality being faced by Canadians who are struggling.
“For a lot of Canadians, the only thing that speech will outline that’s going to help them is a $7 increase. For some Canadians, that’s all they’re getting,” Singh said, citing the projected increase to the GST rebate. “Looking through these flyers, there’s not a lot you can buy in a grocery store for an extra $7,” Singh said.
“This is a serious concern that there’s not the urgency that’s required.”
Conservative finance critic Dan Albas questioned why Freeland chose instead of delivering her address in the House of Commons, to give Canadians “a lecture from their finance minister at $1,000-a-table lunch in Toronto.”
“Rather than coming forward with a plan to fight inflation, one that would, for example, give Canadians a break at the pumps… One that would be able to help them pay for their mortgage as it goes up… Chrystia Freeland re-announced programs that are already indexed to inflation,” Albas said.
“Rather than helping people in their everyday lives today, instead, they have to wait until the next inflation update.”
Freeland is poised to take reporters’ questions on her speech shortly.
EDMONTON – Jake Allen made 31 saves for his second shutout of the season and 26th of his career as the New Jersey Devils closed out their Western Canadian road trip with a 3-0 victory over the Edmonton Oilers on Monday.
Jesper Bratt had a goal and an assist and Stefan Noesen and Timo Meier also scored for the Devils (8-5-2) who have won three of their last four on the heels on a four-game losing skid.
The Oilers (6-6-1) had their modest two-game winning streak snapped.
Calvin Pickard made 13 stops between the pipes for Edmonton.
TAKEAWAYS
Devils: In addition to his goal, Bratt picked up his 12th assist of the young season to give him nine points in his last eight games and now 15 points overall. Nico Hischier remains in the team lead, picking up an assist of his own to give him 16 points for the campaign. He has a point in all but four games this season.
Oilers: Forward Leon Draisaitl was held pointless after recording six points in his previous two games and nine points in his previous four. Draisaitl usually has strong showings against the Devils, coming into the contest with an eight-game point streak against New Jersey and 11 goals in 17 games.
KEY MOMENT
New Jersey took a 2-0 lead on the power play with 3:26 remaining in the second period as Hischier made a nice feed into the slot to Bratt, who wired his third of the season past Pickard.
KEY RETURN?
Oilers star forward and captain Connor McDavid took part in the optional morning skate for the Oilers, leading to hopes that he may be back sooner rather than later. McDavid has been expected to be out for two to three weeks with an ankle injury suffered during the first shift of last Monday’s loss in Columbus.
OILERS DEAL FOR D-MAN
The Oilers have acquired defenceman Ronnie Attard from the Philadelphia Flyers in exchange for defenceman Ben Gleason.
The 6-foot-3 Attard has spent the past three season in the Flyers organization seeing action in 29 career games. The 25-year-old right-shot defender and Western Michigan University grad was originally selected by Philadelphia in the third round of the 2019 NHL Entry Draft. Attard will report to the Oilers’ AHL affiliate in Bakersfield.
UP NEXT
Devils: Host the Montreal Canadiens on Thursday.
Oilers: Host the Vegas Golden Knights on Wednesday.
This report by The Canadian Press was first published Nov. 4, 2024.
KANSAS CITY, Mo. (AP) — Patrick Mahomes threw for 291 yards and three touchdowns, and Kareem Hunt pounded into the end zone from two yards out in overtime to give the unbeaten Kansas City Chiefs a 30-24 win over the Tampa Bay Buccaneers on Monday night.
DeAndre Hopkins had two touchdown receptions for the Chiefs (8-0), who drove through the rain for two fourth-quarter scores to take a 24-17 lead with 4:17 left. But then Kansas City watched as Baker Mayfield led the Bucs the other way in the final minute, hitting Ryan Miller in the end zone with 27 seconds to go in regulation time.
Tampa Bay (4-5) elected to kick the extra point and force overtime, rather than go for a two-point conversion and the win. And it cost the Buccaneers when Mayfield called tails and the coin flip was heads. Mahomes and the Chiefs took the ball, he was 5-for-5 passing on their drive in overtime, and Hunt finished his 106-yard rushing day with the deciding TD plunge.
Travis Kelce had 14 catches for 100 yards with girlfriend Taylor Swift watching from a suite, and Hopkins finished with eight catches for 86 yards as the Chiefs ran their winning streak to 14 dating to last season. They became the sixth Super Bowl champion to start 8-0 the following season.
Mayfield finished with 200 yards and two TDs passing for the Bucs, who have lost four of their last five.
It was a memorable first half for two players who had been waiting to play in Arrowhead Stadium.
The Bucs’ Rachaad White grew up about 10 minutes away in a tough part of Kansas City, but his family could never afford a ticket for him to see a game. He wound up on a circuitous path through Division II Nebraska-Kearney and a California junior college to Arizona State, where he eventually became of a third-round pick of Tampa Bay in the 2022 draft.
Two year later, White finally got into Arrowhead — and the end zone. He punctuated his seven-yard scoring run in the second quarter, which gave the Bucs a 7-3 lead, by nearly tossing the football into the second deck.
Then it was Hopkins’ turn in his first home game since arriving in Kansas City from a trade with the Titans.
The three-time All-Pro, who already had caught four passes, reeled in a third-down heave from Mahomes amid triple coverage for a 35-yard gain inside the Tampa Bay five-yard line. Three plays later, Mahomes found him in the back of the end zone, and Hopkins celebrated his first TD with the Chiefs with a dance from “Remember the Titans.”
Tampa Bay tried to seize control with consecutive scoring drives to start the second half. The first ended with a TD pass to Cade Otton, the latest tight end to shred the Chiefs, and Chase McLaughlin’s 47-yard field goal gave the Bucs a 17-10 lead.
The Chiefs answered in the fourth quarter. Mahomes marched them through the rain 70 yards for a tying touchdown pass, which he delivered to Samaje Perine while landing awkwardly and tweaking his left ankle, and then threw a laser to Hopkins on third-and-goal from the Buccaneers’ five-yard line to give Kansas City the lead.
Tampa Bay promptly went three-and-out, but its defence got the ball right back, and this time Mayfield calmly led his team down field. His capped the drive with a touchdown throw to Miller — his first career TD catch — with 27 seconds to go, and Tampa Bay elected to play for overtime.
UP NEXT
Buccaneers: Host the San Francisco 49ers on Sunday.
NASHVILLE, Tenn. (AP) — Darcy Kuemper made 16 saves for his first shutout of the season and 32nd overall, helping the Los Angeles Kings beat the Nashville Predators 3-0 on Monday night.
Adrian Kempe had a goal and an assist and Anze Kopitar and Kevin Fiala also scored. The Kings have won two of their last three.
Juuse Saros made 24 saves for the Predators. They are 1-2-1 in their last four.
Kopitar opened the scoring with 6:36 remaining in the opening period. Saros denied the Kings captain’s first shot, but Kopitar collected the rebound below the goal line and banked it off the netminder’s skate.
Fiala, a former Predator, made it 2-0 35 seconds into the third.
The Kings held Nashville to just three third-period shots on goal, the first coming with 3:55 remaining and Saros pulled for an extra attacker.
Elsewhere in the NHL on Monday:
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DEVILS 3 OILERS 0
EDMONTON, Alta. (AP) — Jake Allen made 31 saves for his second shutout of the season and 26th of his NHL career, helping the New Jersey Devils close their western Canadian road trip with a 3-0 victory over the Edmonton Oilers.
Jesper Bratt had a goal and an assist and Stefan Noesen and Timo Meier also scored. The Devils improved to 8-5-2. They have won three of their last four after a four-game skid.
Calvin Pickard made 13 saves for Edmonton. The Oilers had won two straight.
