Canadians have been dealing with sticker shock for years as grocery prices have shot up by more than 30 per cent since 2020, according to the most recent data from Statistics Canada.
Last week, Prime Minister Mark Carney announced a suite of affordability measures to help Canadian families who are struggling to cope with the rising cost of living. The flagship measure is the Canada Groceries and Essentials Benefit.
We now know what that will cost. On Monday, the parliamentary budget officer announced that the federal government’s plan to increase the GST credit and offer a one-time payment to Canadians will cost Ottawa an estimated $12.4 billion over five years.
