King Charles III delivers the throne speech. Here are 5 key highlights
King Charles III delivered the speech from the throne on Tuesday, laying out the agenda for Prime Minister Mark Carney‘s government.
From speaking about Canada’s sovereignty, saying the “True North is indeed strong and free,” to Carney’s plan to have Canada join the ReArm Europe defence program, the King also laid out Carney’s economic plan for Canada.
Here are five of the takeaways from what was outlined in the speech.
The King said the Canadian government will be reducing taxes for the middle class and cutting the GST on homes under $1 million for first-time homebuyers, reiterating Carney’s campaign promises.
He said the government will lower the GST on homes between $1 million and $1.5 million.
The King also said the government will double the rate of housing construction and create Build Canada Homes, a new government agency that will act as a developer for affordable housing.
“It will invest in the growth of the prefabricated and modular housing industry. And it will provide significant financing to affordable home builders,” he said.
The Canadian government will also cut development charges for multi-unit builds in half, the King said.
“The government will drive supply up to bring housing costs down,” he said.
The King said the federal government will cap the total number of temporary foreign workers and international students at less than five per cent of Canada’s population by 2027.
“By doing this, the government will attract the best talent in the world to build our economy, while sending a clear message to Canadians working abroad that there is no better time to come home,” he said.
“Canada’s immigration system has long been a source of pride for Canadians and of dynamism for the economy. The government is dedicated to rebuilding the trust of Canadians in immigration by restoring balance to the system.”
With Canada’s economy facing threats from an increasingly protectionist United States, the federal government is looking to knock down interprovincial trade barriers to offset losses from U.S. President Donald Trump’s tariffs.
The King said the government aims to make Canada the strongest economy in the G7.
“That starts with creating one Canadian economy out of 13. Internal barriers to trade and labour mobility cost Canada as much as $200 billion each year,” he said.
The federal government will introduce legislation to remove all remaining federal barriers to internal trade and labour mobility by Canada Day, the King said.
He said that while numerous provinces have already knocked down several trade barriers, the federal government will also set up a Major Federal Project Office to reduce the approval time for major projects to six months.
“It will enable Canada to become the world’s leading energy superpower in both clean and conventional energy,” he said.
The King said Carney and Trump have already “begun defining a new economic and security relationship between Canada and the U.S.”
Canada will also “strengthen its relationships with reliable trading partners and allies around the world,” he said.
The King said the Canada Border Services Agency will be given new powers to examine goods destined for export, to prevent the transport of illegal and stolen products.
He added that the government will “bring a renewed focus on car theft and home invasions by toughening the Criminal Code to make bail harder to get for repeat offenders charged with committing these crimes, along with human trafficking and drug smuggling.”
He said the government will also hire an additional 1,000 Royal Canadian Mounted Police personnel.
“In all of its actions, the government will be guided by a new fiscal discipline: spend less so Canadians can invest more,” King Charles said.
He said the government will bring its operational budget, or day-to-day spending, down to two per cent from the current growth of nine per cent per year.
“The government will balance its operating budget over the next three years by cutting waste, capping the public service, ending duplication and deploying technology to improve public sector productivity,” he said.
Debate on the throne speech must now begin in the House of Commons.
As a confidence matter, the government must be able to pass the legislation to implement it in order to continue governing. In the current minority government, that means it will need help from members of at least one other party.
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