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Canada Dental Care Plan working but costing more than expected: auditor general
Source: CBC Politics
Date: 2026-10-29 14:50:35.0
Tags: [National, Healthcare, Affordability, Finance, Social Services]A report by Auditor General Karen Hogan found that Health Canada's Canadian Dental Care Plan exceeded its initial budget commitments by $1.1 billion during the 2024–25 and 2025–26 fiscal years, with an anticipated further shortfall of $2.4 billion by 2032 due to higher-than-anticipated claim payments per member. While the program successfully reduced average household out-of-pocket dental expenses from $536 in 2023 to $264 for users, the audit revealed persistent public confusion, with 560,000 members (16 per cent of those accessing services in 2025) receiving full coverage, while dental providers spent roughly an hour a day addressing coverage ambiguities and call centres struggled to meet quality metrics. In response, Health Canada engaged the Office of the Chief Actuary to provide quarterly actuarial forecasts to improve claim payment projections and financial planning.
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Bank of Canada raises key interest rate to 2.5% in its first hike since 2023
Source: CBC Politics
Date: 2026-10-28 12:33:56.0
Tags: [National, Economy, Finance, Trade, Affordability]The Bank of Canada, led by Governor Tiff Macklem, raised its benchmark overnight interest rate by 25 basis points to 2.5 per cent, marking its first rate hike since 2023. The central bank stated that the increase is necessary to curb persistent inflation—projected to remain above 3 per cent through much of 2027—which is driven largely by surging energy prices from the Middle East conflict and rising trade tensions with the United States. Policymakers warned that further rate hikes could occur depending on future economic uncertainties and cost pressures.
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N.W.T. finance minister says no emergency relief from fuel price shock, but pushes Ottawa for support
Source: Territories - Northern Affairs (Yukon, NWT, Nunavut)
Date: 2026-10-21 10:00:00.0
Tags: [National, Finance, Energy, Taxation, Affordability]Northwest Territories Finance Minister Caroline Wawzonek rejected calls from MLAs to slash the territorial gas and diesel tax—which generates an estimated $15 million annually—or provide immediate emergency heating fuel subsidies ahead of winter. Testifying before the federal standing committee on Indigenous and Northern Affairs, Wawzonek criticized federal funding programs like the $2-billion heat pump initiative as unsuitable for northern climates and pressed Ottawa for customized support to address energy and affordability challenges where transport and heating costs are double the national average. She noted the territorial government already provides over $18 million in direct annual energy subsidies and warned that low water levels threatening the hydro system will force the territory to rely more heavily on costly diesel generation.
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How does P.E.I. decide which drugs to cover? It’s more complicated than you might think
Source: Prince Edward Island - Regional News
Date: 2026-10-10 09:00:00.0
Tags: [Prince Edward Island, National, Healthcare, Affordability, Finance]The federal government has renewed the Improving Affordable Access to Prescription Drugs program (IAAPD) for Prince Edward Island with $32 million in funding over three years. The program, which launched as a pilot in 2021, has helped add more than 100 medications to P.E.I.'s public formulary and lowered patient co-payments to $5 for many eligible drugs. In addition to the IAAPD, P.E.I. participates in the federal pharmacare program covering specific diabetes medications, supplies, and contraceptives. The multi-step drug coverage process involves Health Canada authorization, price reviews by the Patented Medicine Prices Review Board, cost-effectiveness evaluations by Canada's Drug Agency, collective price bargaining by the Pan-Canadian Pharmaceutical Alliance, and final provincial formulary decisions.
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Ottawa considering ‘options’ as foreign home buyer ban nears end: minister
Source: Global News Politics
Date: 2026-10-07 20:34:15.0
Tags: [National, Housing, Affordability, Economy, Finance]Federal Finance Minister François-Philippe Champagne announced that the Liberal government is considering options regarding the future of the ban on foreign ownership of Canadian residential property. The restriction, originally enacted in 2022 to cool housing markets for Canadian buyers and previously extended in 2024, is scheduled to sunset in January 2027. The government's decision on whether to extend, modify, or allow the ban to expire will be evaluated based on housing stock availability and market evolution ahead of the upcoming federal budget.
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Yukon premier touts 'improved fiscal picture' in territory with budget update
Source: Territories - Northern Affairs (Yukon, NWT, Nunavut)
Date: 2026-10-05 11:00:00.0
Tags: [National, Finance, Economy, Infrastructure, Mining, Affordability]Yukon Premier and Finance Minister Currie Dixon tabled the Yukon Legislative Assembly's fall economic update and a partial capital plan for 2027, projecting a revised budget deficit of $53.7 million—down from the previously predicted $82 million. Forecasted revenues increased by $23.8 million due to higher federal transfers, taxes, and resource royalties, while projected expenditures dropped by $4.2 million, and net debt is now expected to reach $776.2 million by year-end. The 2027 capital spending plan allocates $138.8 million for the upcoming construction season, targeting projects such as the North Klondike Highway, the Shakwak corridor, the Whitehorse hospital expansion, and housing in Burwash Landing, Mayo, and Teslin. Simultaneously, the territory's economic update projects slower real GDP growth driven by lower production at the Keno Hill mine and placer gold operations, alongside elevated local inflation expected to average 4.6 per cent in 2026 due to higher shelter costs, electricity prices, and a greater reliance on heating oil.
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Ottawa Commits Additional Funding for Federal Child Care Program in Ontario
Source: Ontario - Ministry of Education
Date: 2026-09-29 14:34:00.0
Tags: [Ontario, National, Education, Social Services, Affordability, Finance]Ontario Minister of Education Paul Calandra announced that the federal government has extended additional funding to the Canada-wide Early Learning and Child Care program, maintaining current average child care fees at $19 a day with maximum caps at $22 per day until June 30, 2027. Between the 2021-22 and 2026-27 fiscal years, Ontario is investing approximately $34.5 billion in child care and early years programs, which includes $12.3 billion dedicated specifically to child care programs, fee subsidies, wage enhancements, EarlyON Child and Family Centres, and the CARE tax credit. Both governments have committed to ongoing discussions regarding long-term program sustainability beyond June 2027 to ensure continued stability for families and the child care sector.
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Only 150 first-time homebuyer GST rebates approved as of June
Source: CBC Politics
Date: 2026-09-24 21:28:16.0
Tags: [National, Housing, Taxation, Finance, Affordability]Federal data reveals that as of June, only 150 first-time homebuyer GST rebate applications out of 7,500 received have been approved by the federal government under its program eliminating the GST on newly built or substantially renovated homes worth up to $1 million. The data indicates that 620 applications were denied, 6,700 remain pending with an average processing time of 50 days, and a total of $3,577,000 has been paid out at an average of about $24,000 per rebate. Finance Minister François-Philippe Champagne acknowledged the slow rollout, while Department of Finance officials attributed the initial delays to uncertainty surrounding the passage of Bill C-4, which received royal assent in March 2026.
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C-38 (45-1) - Canadian Fuel Affordability Act
Source: Parliament of Canada (LEGISinfo)
Date: 2026-09-21 15:16:00.0
Tags: [National, Taxation, Finance, Affordability]Bill C-38, titled the Canadian Fuel Affordability Act, was introduced and read for the first time in the House of Commons on September 21, 2026. Sponsored by the Minister of Finance and National Revenue, the bill proposes to amend the Excise Tax Act to extend the federal fuel excise tax relief. The legislation is currently at the second reading stage in the House of Commons during the 1st session of the 45th Parliament.
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Liberals will extend gas and diesel tax holiday into 2027, sources say
Source: CBC Politics
Date: 2026-09-02 13:09:12.0
Tags: [National, Taxation, Affordability, Economy, Finance]Finance Minister François-Philippe Champagne announced an extension of the federal excise tax holiday on gasoline and diesel until early 2027. Originally introduced in April by Prime Minister Mark Carney as a temporary measure costing an estimated $2.4 billion to mitigate short-term oil price pressures from the U.S. conflict with Iran, the policy cuts the 10-cent federal excise tax per litre of gas and 4 cents per litre of diesel. The extension comes amid ongoing demands from provincial leaders like Ontario Premier Doug Ford and federal Conservative Leader Pierre Poilievre for further tax relief.
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