Election 2025: Finance

As Canadians face ongoing concerns about housing affordability, rising costs of living, and long-term financial security, the country's federal political parties have proposed a range of personal finance-related policies. Below is a fact-based overview of where each party stands on key issues such as taxation, housing, retirement, and consumer protections.

To keep it simple, we’ve grouped the parties into major parties and 3 major-minor parties (those below 5% but on the CBC Poll tracker, or only in Quebec), then sorted alphabetically in each group.

Major Parties

🔵 Conservative Party of Canada

• Taxes & Savings:

  • Reduce the lowest federal income tax rate from 15% to 12.75%.

  • Increase the Tax-Free Savings Account (TFSA) annual limit by $5,000, when invested in Canadian businesses.

• Housing:

  • Remove GST on new homes priced under $1.3 million for all buyers.

• Affordability & Energy:

  • Eliminate the carbon tax.

  • Repeal federal environmental assessment legislation to speed up housing and infrastructure development.

🔴 Liberal Party of Canada

• Taxes:

  • Cut the lowest federal income tax rate from 15% to 14%.

• Housing:

  • Remove GST on new homes under $1 million for first-time buyers.

  • Aim to double the rate of housing construction to 500,000 homes annually.

• Financial Regulation:

  • Cap credit card interest rates at 15%, with a goal to reduce further to 10%.

  • Introduce an independent ombudsperson for consumer banking complaints.

  • Enhance powers of the Financial Consumer Agency of Canada to regulate bank fees and lending practices.

• Retirement:

  • Increase Old Age Security (OAS) for seniors 75+.

  • Boost Canada Pension Plan (CPP) survivor benefits by 25%.

🟠 New Democratic Party (NDP)

• Taxes & Wealth:

  • Introduce a 1% wealth tax on net assets over $20 million.

  • Increase the capital gains inclusion rate from 50% to 75%.

• Housing:

  • Build 500,000 affordable housing units over ten years.

  • Waive GST/HST on new rental housing developments.

• Retirement & Seniors:

  • Expand the Canada and Quebec Pension Plans.

  • Add $400 million to the Guaranteed Income Supplement (GIS) for low-income seniors.
    

Major-Minor Parties

🟦 Bloc Québécois

• Tax & Pension Autonomy:

  • Advocate for Quebec control over federal taxation and pension administration, such as the Quebec Pension Plan (QPP).

• Housing & Seniors:

  • Support federal transfers to Quebec for affordable housing programs.

  • Propose increased support for Old Age Security (OAS) and targeted affordability measures for low-income Quebecers.
    

🟩 Green Party of Canada

• Guaranteed Income:

  • Introduce a Guaranteed Livable Income to provide a basic income floor.

• Green Economy & Jobs:

  • Invest in clean energy, building retrofits, and nationalizing parts of the power grid.

  • Provide training and income support for workers transitioning out of carbon-intensive industries.

  • Support strong unions and fair-wage guarantees.

🟪 People’s Party of Canada (PPC)

• Taxation & Fiscal Policy:

  • Reduce the corporate income tax from 15% to 10%.

  • Eliminate corporate subsidies and reduce foreign aid to balance the budget.

  • Plan future cuts to personal income and capital gains taxes.

• Consumer Goods:

  • Abolish supply management in dairy, poultry, and eggs to lower food costs.

• Housing:

  • Expressed commitment to cooling the housing market, though specifics are limited.

Final Thoughts

Each party is offering a distinct vision for how to make life more affordable for Canadians—from tax reforms and housing incentives to targeted support for retirees and low-income families. Whether you're looking to buy a home, save for retirement, or lower your grocery bills, understanding these policies is key to making an informed decision.