Carney Announces New Tax Benefit and Measures Aimed at Lowering Grocery Costs Prime Minister Mark Carney has introduced a 25 percent increase to the GST credit, named the Canada Groceries and Essentials Benefit, to help lower-income consumers manage high grocery costs. Approximately 12 million eligible Canadians will receive this enhanced credit for the next five years, starting in July. In addition to the permanent increase, there will be a one-time payment this year equivalent to 50 percent of the credit, intended to offset food price hikes since the pandemic.

• A 25 percent increase to the GST credit, called the Canada Groceries and Essentials Benefit, has been announced.
• This benefit aims to assist lower-income consumers with the high cost of groceries.
• The enhanced credit will be distributed to about 12 million eligible Canadians for five years, starting in July.
• A one-time payment equal to 50 percent of the credit will also be issued this year.
• The measures are intended to compensate for increased food prices experienced since the pandemic.