TAXES – Reduce the marginal tax rate on the lowest tax bracket by one percentage point. Carney’s campaign says this move will save two-income families up to C$825 a year and directly benefit more than 22 million Canadians, with middle- and low-income people enjoying the biggest savings. The Conservatives have promised the lowest income tax bracket by 15%, saving each Canadian taxpayer C$900 per year. Any person or business selling an asset will pay no capital gains tax when they reinvest the proceeds in Canada. Companies that reinvest in active Canadian businesses will also be able to defer any capital gains tax.
SECURITY – Push through “an unprecedented acceleration” of investment in the armed forces, expanding the Royal Canadian Navy’s capabilities with new submarines and additional heavy icebreakers to defend the North and increasing the Coast Guard’s reach and abilities. All military personnel would get a raise and the recruitment process for Canada’s Armed Forces would be modernized to eliminate a shortage of 14,500 service members. Carney is also promising an overhaul of Canada’s troubled defense procurement system to speed up major military purchases.
TRADE DIVERSIFICATION – Amid the nation engaged in trade war with US, the Liberals vow to inject C$5 billion into a new Trade Diversification Corridor Fund. The aim is to build out infrastructure that will diversify Canada’s trade relationships around the world, create good jobs and drive economic growth. The Conservatives are proposing a deal in which Canada and the U.S. simultaneously drop their tariffs and counter-tariffs. Party leader Pierre Poilievre also would propose an early renegotiation of the USMCA ahead of a planned review in 2026.
HOUSING – The government would act as a developer to build affordable housing at scale, including on public lands, while providing more than C$25 billion in financing to innovative prefabricated home builders. In addition to eliminating the Goods and Services Tax for first-time home buyers on properties at or under C$1 million, the Liberals want to cut municipal development charges in half for multi-unit residential housing. The Conservations vow to eliminate the federal sales tax on new homes under $1.3 million, which will save home buyers up to C$65,000. Incentivize municipalities to cut building taxes, for total savings of C$100,000 on an average home in Canada’s big cities.