MP Malette says Masters of Our Destiny budget helps Quinte region

MP Chris Malette with François Philippe Champagne,-Minister of Finance and National-Revenue. – Photo submitted

Chris Malette, Bay of Quinte MP, welcomed today’s Government of Canada 2026 Federal Budget, titled Masters of Our Destiny, calling on its focus on economic growth, affordability, fiscal responsibility and support for Prince Edward County and neighbouring communities.

“This budget delivers real support for Bay of Quinte residents,” said MP Malette. “It lowers costs for families, invests in housing and good-paying jobs, supports caregivers and military families, and lays out an ambitious plan to end chronic homelessness by bringing housing, health care and support services together. These investments will strengthen our communities and improve quality of life across our region.”

In short, he states the $142 billion plan in Budget 2026 slows direct program spending growth to two per cent from eight per cent, delivers more than $400 billion in capital investments over six years and introduces $22 billion in new affordability measures for Canadians.

The government projects a $62.3 billion deficit – lower than the projected $65.3 in spring. By 2030 the budget shows that about 12 cents of every tax dollar will go to debt servicing charges.

Some interesting budget highlights:

Budget 2026 introduces a Refundable Canada Caregiver Credit, providing eligible caregivers with up to $1,260 annually beginning in 2027.

A new Canada Groceries and Essentials Benefit Supplement will provide a one-time 50 per cent increase payment in early 2027, worth up to $339 for a single individual and $679 for a couple with two children.

It is projected the income supplement for seniors will cost $89.4 billion and goes up to $109.5 billion by 2030.

Plans are to spend $11.2 billion over the next five years toward ending homelessness within a decade.

In everyday items, the price of a stamp will increase to $2 from $1.44 as Crown corporation Canada Post tries to stem losses.

The tax deadline is proposed to be moved to May 15 from April 30 starting in 2028 for the 2027 tax year. And RRSPs may be maintained after the age of 71.

About $1.5 billion over nearly a decade is tallied for ice rinks and recreation centres.

There will be additional personal tax benefits for artists through the new Canada Creative Credit and massage therapists will see a GST/HST exemption.

“Canada has the resources, talent and determination to succeed in a rapidly changing world,” said Malette. “This budget invests in workers, businesses and communities while maintaining the fiscal discipline needed to build a stronger and more prosperous future.”

There is a $36.1 billion deduction aimed to allow businesses to write-off some new capital investments like equipment and buildings.

There is also $26.6 billion in new money for Indigenous reconciliation – much of which is to go to water infrastructure and housing, education and families.

For the Bay of Quinte, Malette states Budget 2026 will help:

– Support local farmers and food processors through the National Food Security Strategy.

– Strengthen Prince Edward County’s wine industry through the proposed renewal of the Wine Sector Support Program, investing $176.9 million over three years beginning in 2027-28.

– Build more homes and improve housing affordability.
Create skilled jobs through investments in manufacturing, infrastructure, clean energy, critical minerals and defence.

– Support 8 Wing CFB Trenton and military families through defence modernization and growth.
Lower costs for families through grocery assistance, housing measures, mortgage supports and energy-efficient home retrofits.

– Invest $1.2 billion to extend federal funding agreements for mental health, addictions treatment, and home and community care services.

Malette welcomed the proposed renewal of the Wine Sector Support Program, recognizing the importance of Prince Edward County’s world-renowned wine industry.

“Prince Edward County’s wine industry is a major economic driver for our region, attracting visitors from across Canada and around the world while supporting local jobs and businesses,” he said.

“Renewing the Wine Sector Support Program will help local wineries remain competitive, support jobs, strengthen agritourism and continue showcasing the best of Bay of Quinte to visitors.”