The Spring Economic Update 2026: Canada Strong For All marks the next step in our plan to build a stronger, more independent, and resilient Canada for all. At a time of global uncertainty, our government remains focused on delivering real results for Canadians, by advancing affordable housing, investing in major infrastructure that connects and transforms our economy, and helping bring down costs so families can get ahead. This update also provides a clear and transparent picture of Canada’s economic performance, helping businesses seize new opportunities and giving families the confidence to plan for the future.
A key priority is supporting workers and young people. Through the launch of Team Canada Strong, we will recruit, train, and hire between 80,000 and 100,000 new Red Seal skilled trades workers by 2030–31. This initiative will create direct, paid pathways for young Canadians to contribute to building housing, infrastructure, and defence capacity at the scale and speed required. To support this effort, the government is investing $2 billion to help young people enter the skilled trades, providing up to $10,000 in apprenticeship supports for employers, particularly small and medium-sized businesses, and making education more affordable by extending enhanced Canada Student Grants and interest-free Canada Student Loans for the 2026–2027 academic year.
Making life more affordable for Canadians remains central to our plan. The government is investing $42 million to support factory-built housing and accelerating $7 billion in low-cost loans to help build up to 16,500 new rental homes. In addition, we are reducing the contribution rate for the base Canada Pension Plan, which will result in annual savings for workers while maintaining the Plan’s long-term sustainability. Measures are also being taken to simplify access to the Disability Tax Credit, ensuring that individuals with long-term medical conditions can more easily receive the support they need.
We are also committed to building stronger and safer communities. The Spring Economic Update proposes $75 million for the Canada Community Security Program to help protect communities from hate-motivated incidents and improve safety. Additional investments include $755 million to strengthen participation in sport and support Canadian athletes, as well as the establishment of Canada’s first dedicated Financial Crimes Agency to combat serious and complex financial crimes, including fraud and money laundering.
To strengthen Canada’s long-term economic growth, we are advancing nation-building initiatives. This includes launching the Canada Strong Fund, a new sovereign wealth fund capitalized at $25 billion to invest in projects and companies driving Canada’s economic transformation. In addition, we are advancing nation-building projects through the Major Projects Office. The government is also taking steps to resolve air passenger complaints more efficiently by introducing a neutral, third-party dispute resolution system, while improving regulations to ensure fairness and timely compensation for travellers.
Expanding international trade is another important pillar of our strategy. Canada has recently signed important new agreements, including the Canada–China Strategic Partnership, to support agricultural and seafood exports while also strengthening Canada’s domestic manufacturing sector. Canada will also allow up to 49,000 Chinese electric vehicles (EVs) into the Canadian market. Over time, this is also expected to expand access to more affordable electric vehicle options for Canadian consumers, including models priced under $35,000.These efforts will help diversify our markets and create new opportunities for Canadian businesses.
Finally, the Spring Economic Update reinforces our commitment to supporting Canadians at every stage of life. We are taking action to increase housing supply by modernizing mortgage insurance rules, making it easier to build multi-unit housing such as triplexes and fourplexes. At the same time, we are investing in community safety, modernizing tax rules for charities, and renewing the Community Volunteer Income Tax Program Grant, providing $18.7 million over three years to help Canadians access tax filing services within their communities.
Canada’s new government is fiscally responsible – we have reduced our projected deficit for 2025-26 by more than $11 billion. The Spring Economic Update 2026 ensures all Canadians can participate in building Canada strong and share in its success.
We are building a Canada that is not just strong, but good. Not just prosperous, but fair. A Canada for all, all of the time. Building Canada strong, for all.
