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Parliamentary Secretary Tom Osborne highlights Government of Canada’s investments from Budget 2026: Masters of our destiny

Treasury Board of Canada Secretariat
Thursday at 1:26pm AST · November 12, 2026 6 min read

GANDER, NL, Nov. 12, 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, Tom Osborne, Parliamentary Secretary to the President of the Treasury Board and Member of Parliament for Cape Spear–Mount Pearl–Paradise, met with Crossroads Family Resource Center in Gander, Newfoundland and Labrador, to highlight key affordability measures from Budget 2026: Masters of our destiny. 

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 delivers for people:

  • A long-term housing strategy, providing nearly $45 billion on a cash basis over the next 11 years. Budget 2026 puts Canada on a path to end homelessness within 10 years while expanding non-market housing and building a housing market that works for all.   
  • Up to $339 for a single person without children and up to $679 for a couple with two children will be provided 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.  
  • An estimated 240,000 people will be lifted out of poverty through the new Build Canada Workers Benefit, keeping more money in workers’ pockets.  
  • $1.2 billion in 2027-28 to extend mental health, addictions, and home and community care agreements will help more Canadians access the care they need regardless of their ability to pay.
  • An estimated 585,000 caregivers will benefit from the new refundable Canada Caregiver Credit, recognizing their vital role in helping Canadians remain in their homes and communities.
  • A $2 billion investment will help up to 820,000 households switch to heat pumps and support home retrofits thanks to the new National Heat Pump Rebate. Together with other measures to improve energy efficiency, including retrofits in multi-unit residential buildings, these investments are projected to reach up to one million homes and save Canadians more than $1 billion a year on energy bills once fully implemented.
  • 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 childcare, helping families save up to $11,255 per child a year— and more childcare spaces are on the way.
  • Up to 5.5 million low-income Canadians will have easier access to federal benefits through automatic benefits and pre-filled returns.  

Quote: 

“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 

“Budget 2026 delivers real, targeted relief where Canadians need it most. Our government is focused on making life more affordable for Canadians today while building a stronger, more resilient economy for the future. By taking concrete action, our government is transforming opportunities into investments so we can build Canada strong for all.”  

-Tom Osborne, Parliamentary Secretary to the President of the Treasury Board

Associated links:

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 childcare has fallen around 30% nationwide since 2019.

SOURCE Treasury Board of Canada Secretariat

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