QUESTION PERIOD — Finance
Cost of Living
February 25, 2026
Senator Moreau, the Bank of Canada’s Canadian Survey of Consumer Expectations for the fourth quarter of 2025 shows that Canadians have a higher likelihood of missing debt payments and growing concerns under financial health. Many households are worried about their ability to make ends meet amid high prices, economic uncertainty and concerns over job security.
These trends suggest growing financial strain on households that could have broader implications for economic stability and consumer spending. Can the government advise the Senate what targeted measures it is taking to support Canadians’ financial health, help households manage and reduce debt burdens and ensure that families are better safeguarded against financial distress?
The short answer would be that there are many targeted measures, Senator Loffreda. Thank you for raising the question.
Since taking office, the Prime Minister has delivered tax relief for 22 million Canadians — our friends on the other side voted against those measures — eliminated the consumer carbon tax, protected pharmacare and dental care, expanded child care, made it easier to access the Disability Tax Credit and delivered targeted relief to help Canadians manage the cost of groceries.
The government is aware that there is a problem, and it is putting forward solutions.
Thank you for that answer and for the specific details. Hopefully, we will see a lot more of those solutions coming forward.
Senator Moreau, what assessment has the government made of the potential systemic risks that these trends pose to Canada’s broader financial system and housing market? Specifically, how is the government monitoring rising delinquencies and excessive household indebtedness? What safeguards are in place to prevent these issues from evolving into wider economic instability?
The first part of your supplemental was about what we will see in the future. We will see Bill C-4, which cuts GST for first-time home buyers; Bill C-15, which invests $57 billion in affordable child care; and Bill C-20, which invests $13 billion for new housing.
That being said, the government is also focusing on the root of the issue by boosting productivity and income through measures like the productivity super-deduction, increased financing for small businesses and enhanced support for innovation.
