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Spring Economic Update 2026: Our plan: Canada strong for all
Department of Finance Canada · 2026-04-28
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<div class="pageTitle"><span>Spring Economic Update 2026</span>
<h1 class="provisional gc-thickline" property="name" id="wb-cont"><small><b>Our
plan: </b></small><br> Canada strong for all</h1>
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<h2 id="a1">Building Canada Strong, For All</h2>
<p>Over the past year, Canadians have navigated a rapidly changing and increasingly fragmented world.
One that is more complex, more volatile and, for many, more costly and unpredictable.</p>
<p>In response, Canada's new government continues to focus on what we can control — building a strong
Canadian economy, diversifying our trade partners abroad, delivering responsible fiscal management,
and supporting Canadians who are under pressure from everyday expenses — with a boost today and a
bridge to a better tomorrow.</p>
<p>In Budget 2025, we outlined our plan to build Canada Strong. Since then, we have moved fast to:
</p>
<ul>
<li>Build the major infrastructure, homes, and industries that grow our economy and create lasting
prosperity. </li>
<li>Empower Canadians with better careers, strong public services in both official languages, and a
more affordable life. </li>
<li>Protect our communities, our borders, and our way of life. </li>
</ul>
<p>In our first budget, we made responsible choices to reduce spending to save Canadian taxpayers
$60 billion over five years. We are spending less on government operations so Canadians can
invest more to build a brighter future for all. </p>
<p>We have the right plan. We're building big, we're moving fast, and we're just getting started. In the
past year:</p>
<ul>
<li>15 nation-building projects have been announced that will support over 60,000 jobs and drive
over $125 billion in new investment.</li>
<li>The government launched the $1.5 billion <strong>First and Last Mile Fund</strong> as part
of the <strong>Critical Minerals Strategy</strong>, which will drive billions in further
investments and position Canada as a secure supplier of choice.</li>
<li>Catalysing half a trillion dollars of investment to build Canadian industry and creating over
125,000 new jobs through our new <strong>Defence Industrial Strategy</strong>. </li>
<li>Building demand for Canadian products, driving changes in how we build homes, and committing
support for thousands of new housing units to date through <strong>Build Canada Homes</strong>'
partnerships across the country.</li>
<li>More than 12 million Canadians will have more money in their bank accounts starting in June
— up to $1,890 this year for a family of four — through our new <strong>Canada Groceries and
Essentials Benefit</strong>.</li>
<li>400,000 children have access to healthy meals, while their parents are saving $800 a year on
groceries because we have made the <strong>National School Food Program</strong> permanent.</li>
</ul>
<p>The Spring Economic Update 2026 is the next step in our plan to build a stronger, more independent,
and resilient Canada for all. It advances our progress of building more affordable homes and the
major infrastructure that transforms and connects our economy, while bringing down costs to help you
get ahead. </p>
<p>We are providing a clear and transparent account of how Canada's economy is performing in an
increasingly uncertain world. This transparency is critical to lift the fog of uncertainty, help
businesses seize new opportunities, and give families the confidence to plan for their future.</p>
<p>We are building a Canada that is not just strong, but good; not just prosperous, but fair. A Canada
that is not just for some, most of the time, but for all, at all times.</p>
<p>We're building Canada strong, for all. </p>
<h2 id="a2">Delivering for Canadians: Progress Since the Spring of 2025</h2>
<p>Since the spring of 2025, Canada's new government has taken decisive action and made targeted
investments to deliver results for Canadians.</p>
<figure class="panel panel-default">
<figcaption class="panel-heading">Figure 0.1<br>
<b>Delivering for Canadians: Progress Since the Spring of 2025</b>
</figcaption>
<div class="panel-body"> <img class="img-responsive full-width" src="./img/fig0-1-eng.png"
alt="Chart image" />
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<thead>
<tr class="bg-dark text-white">
<th class="" scope="col">Date</th>
<th scope="col">Event</th>
</tr>
</thead>
<tbody>
<tr>
<th scope="row" class="active text-center" colspan="2">March 2025</th>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>March 14</strong></th>
<td>Swearing-in of 24th Prime Minister. Government <strong>reduces consumer
carbon price to zero</strong>.</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>March 21</strong></th>
<td>Government <strong>cancels the capital gains tax increase</strong></td>
</tr>
<tr>
<th scope="row" class="active text-center" colspan="2">May 2025</th>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>May 27</strong></th>
<td><strong>Speech from the Throne</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>May 27</strong></th>
<td><strong>Announced details of GST relief for first-time home
buyers</strong> on new homes</td>
</tr>
<tr>
<th scope="row" class="active text-center" colspan="2">June 2025</th>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>June 9</strong></th>
<td>Commitment of over $9 billion to meet <strong>NATO’s 2% target</strong>
in 2025</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>June 15-17</strong></th>
<td>G7 Presidency</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>June 16</strong></th>
<td>Launch of the <strong>Canada Strong Pass</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>June 19</strong></th>
<td>New measures to <strong>support the steel industry</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>June 20</strong></th>
<td>Passage of the <strong><em>One Canadian Economy Act</em></strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>June 23</strong></th>
<td>New EU-Canada Strategic Partnership of the Future with the
<strong>European Union</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>June 25</strong></th>
<td>Canada joins the NATO <strong>Defence Investment Pledge</strong></td>
</tr>
<tr>
<th scope="row" class="active text-center" colspan="2">July 2025</th>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>July 1</strong></th>
<td>The government delivers a <strong>middle-class tax cut</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>July 16</strong></th>
<td>New measures to <strong>protect and strengthen Canada’s steel
industry</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>July 28</strong></th>
<td>Toll and fare reductions for the <strong>Confederation Bridge and
interprovincial ferries</strong> in Atlantic Canada and Québec</td>
</tr>
<tr>
<th scope="row" class="active text-center" colspan="2">August 2025</th>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>August 5</strong></th>
<td>New measures to <strong>transform Canada’s softwood lumber
industry</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>August 8</strong></th>
<td>Pay raises for <strong>Canadian Armed Forces</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>August 25-26</strong></th>
<td>Canada enhances trade and security partnerships in <strong>Poland,
Germany, and Latvia</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>August 29</strong></th>
<td>Launch of <strong>Major Projects Office</strong></td>
</tr>
<tr>
<th scope="row" class="active text-center" colspan="2">September 2025</th>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>September 5</strong></th>
<td>New measures taken to protect, build and <strong>transform industries
impacted by tariffs</strong> – steel, softwood lumber, and
agriculture, fisheries and seafood industries<strong></strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>September 11</strong></th>
<td>First wave of <strong>major projects – 5 projects representing $60 billion in capital investment</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>September 14</strong></th>
<td>Launch of $13 billion <strong>Build Canada Homes</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>September 18</strong></th>
<td>Launch of a new <strong>Comprehensive Strategic Partnership with
Mexico</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>September 24</strong></th>
<td>Canada signs the <strong>Indonesia-Canada Comprehensive Economic
Partnership Agreement</strong></td>
</tr>
<tr>
<th scope="row" class="active text-center" colspan="2">October 2025</th>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>October 2</strong></th>
<td>Launch of the <strong>Defence Investment Agency</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>October 10</strong></th>
<td>New affordability measures: <strong>Automatic federal benefits</strong>,
<strong>renewal of Canada Strong Pass</strong> and <strong>National
School Food Program made permanent</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>October 16-17</strong></th>
<td>New security measures: Hiring of <strong>1,000 RCMP personnel</strong>
and <strong>1,000 CBSA officers</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>October 26-29</strong></th>
<td>Canada advances new trade, economic, and security partnerships with
<strong>ASEAN nations</strong></td>
</tr>
<tr>
<th scope="row" class="active text-center" colspan="2">November 2025</th>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>March - November</strong></th>
<td>More than $25 billion in <strong>supports for workers and
businesses</strong> impacted by U.S. tariffs</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>November 4</strong></th>
<td>Tabling of <strong>Budget 2025 – Canada Strong</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>November 13</strong></th>
<td>Second wave of <strong>major projects – 6 new projects, bringing total
capital investment to $116 billion</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>November 21</strong></th>
<td><strong>Canada signs Canada-UAE Foreign Investment Promotion and
Protection Agreement (FIPA)</strong>, secures $70 billion in
investments, and deepen economic cooperation</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>November 26</strong></th>
<td>Prime Minister Carney announces new measures to <strong>protect and
transform Canada’s steel and lumber industries</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>November 27</strong></th>
<td><strong>Canada-Alberta Memorandum of Understanding </strong></td>
</tr>
<tr>
<th scope="row" class="active text-center" colspan="2">December 2025</th>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>December 1</strong></th>
<td>Canada’s participation secured in <strong>Security Action for
Europe</strong> initiative<strong></strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>December 16</strong></th>
<td><strong>Buy Canadian Policy</strong> takes effect Co-operation Agreement
on Environmental and Impact Assessment between New Brunswick and Canada
</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>December 18</strong></th>
<td>Co-operation Agreement on Environmental and Impact Assessment between
Ontario and Canada<strong></strong></td>
</tr>
<tr>
<th scope="row" class="active text-center" colspan="2">January 2026</th>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>January 1st</strong></th>
<td>Launch of the $2 billion <strong>Export Development Canada Concessional
Trade Finance Facility</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>January 16</strong></th>
<td>Canada forges new strategic partnership with the <strong>People’s
Republic of China</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>January 18</strong></th>
<td>Canada secures new partnership to increase trade, investment, and
defence cooperation with <strong>Qatar</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>January 26</strong></th>
<td><strong>Canada Groceries and Essentials Benefit</strong></td>
</tr>
<tr>
<th scope="row" class="active text-center" colspan="2">February 2026</th>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>February 5</strong></th>
<td>Launch of new $6.9 billion <strong>Automotive Strategy</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>February 17</strong></th>
<td>Launch of the first-ever <strong>Defence Industrial Strategy</strong>
</td>
</tr>
<tr>
<th scope="row" class="active text-center" colspan="2">March 2026</th>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>March 2</strong></th>
<td>Canada secures new partnership focused on energy, talent, and
technology with <strong>India</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>March 3 & 4</strong></th>
<td>Launch of $6 billion <strong>Trade Infrastructure Strategy</strong>
Launch of the $1.5 billion <strong>First and Last Mile Fund</strong>
</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>March 5</strong></th>
<td>Canada elevates partnership in critical minerals, defence, and
artificial intelligence with <strong>Australia</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>March 6</strong></th>
<td>Canada announces new Comprehensive Strategic Partnership with
<strong>Japan</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>March 11</strong></th>
<td>One-year extension of <strong>Work-Sharing temporary
flexibilities</strong> to help avoid layoffs</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>March 12</strong></th>
<td>Major Projects Office refers 4 additional projects – reaching a total of
15 projects representing over $125 billion in capital investments – to
connect, build, transform and secure Canada’s Arctic and Northern
region.</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>March 20</strong></th>
<td>Six-month extension of <strong>Employment Insurance temporary
measures</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>March 24</strong></th>
<td>First round of applications for <strong>recruitment of international
researchers</strong> concludes<strong></strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>March 25</strong></th>
<td>Agreement in principle – Canada-Alberta <strong>methane equivalency
agreement</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>March 26</strong></th>
<td>Achieving the <strong>NATO 2% defence spending target</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>March 26</strong></th>
<td>Introduction of the <strong>Improving Housing Supply Act</strong>
<strong>Clean Electricity investment tax credit</strong> implemented
Co-operation Agreement on Environmental and Impact Assessment between
Prince Edward Island and Canada</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>March 27</strong></th>
<td>Co-operation Agreement on Environmental and Impact Assessment between
Nova Scotia and Canada</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>March 30</strong></th>
<td>Launch of public consultations on the <strong>National Anti-Fraud
Strategy</strong></td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>March 31</strong></th>
<td>Launched <strong>A Force of Nature: Canada’s Strategy
to Protect Nature</strong></td>
</tr>
<tr>
<th scope="row" class="active text-center" colspan="2">April 2026</th>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>April 1</strong></th>
<td>Announced Extension of <strong>Alcohol Excise Duty Relief</strong> for
Canadian Breweries, Distilleries, and Wineries</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>April 2</strong></th>
<td>Co-operation Agreement on Environmental and Impact Assessment between
Alberta and Canada</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>April 7</strong></th>
<td>Launch of $51 billion <strong>Build Communities Strong Fund</strong>
</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>April 14</strong></th>
<td>Co-operation Agreement on Environmental and Impact Assessment between
Manitoba and Canada</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>April 14</strong></th>
<td>Temporary suspension of the <strong>federal Fuel Excise Tax</strong> on
gasoline, diesel, and aviation fuels from April 20, 2026 to September 7,
2026.</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml nowrap"><strong>April 17</strong></th>
<td>Canada announces first-ever <strong>Investment Summit</strong></td>
</tr>
</tbody>
</table>
</div>
</details>
</footer>
</figure>
<h2 id="a3">The Spring Economic Update 2026</h2>
<p>The Spring Economic Update 2026 maintains Canada's fiscal strength — while investing for Canadians
where it counts to build Canada's prosperity today and for the next generation. This includes core
new investments to invest in Canada's future, with the good-paying careers that will build a Canada
that is affordable, prosperous, and safe.</p>
<figure class="panel panel-default">
<figcaption class="panel-heading">Figure 0.2<br>
<b>Overview of Core New Investments in the Spring Economic Update 2026</b>
</figcaption>
<div class="panel-body"> <img class="img-responsive full-width" src="./img/fig0-2-eng.png"
alt="Chart image" />
</div>
<footer class="panel-footer">
<details class="mrgn-tp-sm">
<summary>Text version</summary>
<p><strong>Canada’s own Sovereign Wealth Fund</strong></p>
<p>Canada is creating its own sovereign wealth fund - the <strong>Canada Strong Fund</strong>. This new Fund will strengthen Canada’s economy and give Canadians a direct stake in its success.</p>
<p>The Fund will invest in key, strategic Canadian projects and companies on a commercial basis and alongside private sector investors.</p>
<p>Canadians will have the opportunity to invest in the Fund and share in the financial returns generated by these projects and companies.</p>
<p><strong>Supporting Workers and Young People</strong></p>
<p>Launching <strong>Team Canada Strong</strong> to recruit, train, and hire 100,000 new Red Seal skilled trades workers by 2030-31, creating paid, direct pathways for young Canadians to help build housing, major infrastructure, and defence capacity at speed and scale.</p>
<p>$2.9 billion to help young people start working in the skilled trades through paid, job-ready placements that lead directly into registered apprenticeships.</p>
<p>Up to $10,000 per apprentice to support employers, particularly small and medium-sized businesses, to hire, train, and retain apprentices, including help matching workers to jobs.</p>
<p>Enhanced income supports during training, including a $400 per week <strong>Apprenticeship Training Grant</strong> while apprentices are in mandatory in-class technical training, so more can complete their training.</p>
<p><strong>Making Life More Affordable for Canadians</strong></p>
<p>$42 million to enable factory-built housing, make homebuilding more efficient and innovative, and to improve the responsiveness of housing markets.</p>
<p>Accelerating over $7 billion in low-cost loans to speed up the construction of up to 16,500 new rental homes.</p>
<p>With the unanimous support of provinces and territories, reducing the contribution rate of the base <strong>Canada Pension Plan</strong>.</p>
<p>Making it easier to access the <strong>Disability Tax Credit</strong> by streamlining the application process for individuals with certain long-lasting medical conditions.</p>
<p><strong>Stronger and Safer Communities</strong></p>
<p>Build strong communities with investments that ensure Canadians feel safe, including $75 million for the Canada Community Security Program.</p>
<p>$755 million to host and compete with the best, support our world class athletes, and get more Canadians involved in sport. </p>
<p>Nearly $1 billion to repair and maintain small craft harbours, essential infrastructure for coastal communities and commercial fishing.</p>
<p>Standing up the <strong>Financial Crimes Agency</strong> as Canada’s first-ever federal law enforcement agency dedicated to investigating serious and complex financial crimes and recovering the proceeds of crime.</p>
<p>Nearly $4.3 billion in funding to empower healthy, thriving Indigenous communities.</p>
</details>
</footer>
</figure>
<section class="section-blue">
<div class="section-banner">
<div class="banner-content">
<h2 id="a4">In an Uncertain World, Canada Focuses on What it Can Control</h2>
</div>
<div class="banner-img"></div>
</div>
<p>The world is undergoing a series of fundamental shifts at a speed, scope and scale not seen in
generations. Over the past two decades, a series of crises in health, energy, finances, and
geopolitics have exposed the risks of extreme global integration. Today, the rules-based
international order and the trading system that powered Canada's prosperity for decades are
being reshaped. </p>
<p>Long-standing supply chains and trade relationships that once supported stable growth, good jobs,
and affordable products are being disrupted. Rising geopolitical tensions, including the
conflict in the Middle East and escalating trade pressure such as U.S. tariffs, are adding to
cost pressures and driving volatility in energy prices and financial markets.</p>
<figure class="panel panel-default boxAttached">
<div class="boxAttachedTitle">
<p><span class="lead"><strong>Global Uncertainty Near Record High</strong></span><br>
Geopolitical Risk Has Surged, Driving Up Global Oil Prices</p>
</div>
<div class="boxAttachedDouble">
<div class="double-first">
<figcaption class="panel-heading boxAttachedSubtitle">Chart 0.1
</figcaption>
<div class="panel-body"> <img class="img-responsive full-width"
src="./img/chart0-1-eng.svg" alt="Chart image" />
</div>
<footer class="panel-footer">
<p class="small">Sources: PolicyUncertainty.com, Haver Analytics, Bloomberg.</p>
<details class="mrgn-tp-sm">
<summary>Text version</summary>
<div class="table-responsive" id="t1">
<table cellspacing="0" cellpadding="0" class="table table-bordered">
<thead>
<tr class="bg-dark text-white">
<th class="" scope="col">Year</th>
<th class="text-right" scope="col">Geopolitical Risk Index number</th>
</tr></thead>
<tbody>
<tr class="text-right">
<th scope="row" class="fnt-nrml">January 1, 2008</th>
<td>81.5</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">February 1, 2008</th>
<td>80.75</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">March 1, 2008</th>
<td>77.64</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">April 1, 2008</th>
<td>71.9</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">May 1, 2008</th>
<td>72.57</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">June 1, 2008</th>
<td>87.55</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">July 1, 2008</th>
<td>89.74</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">August 1, 2008</th>
<td>88.55</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">September 1, 2008</th>
<td>88.54</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">October 1, 2008</th>
<td>64.16</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">November 1, 2008</th>
<td>79.08</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">December 1, 2008</th>
<td>92.37</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">January 1, 2009</th>
<td>85.37</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">February 1, 2009</th>
<td>67.45</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">March 1, 2009</th>
<td>72.64</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">April 1, 2009</th>
<td>85.69</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">May 1, 2009</th>
<td>89.68</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">June 1, 2009</th>
<td>81.11</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">July 1, 2009</th>
<td>83.44</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">August 1, 2009</th>
<td>73.37</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">September 1, 2009</th>
<td>92.84</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">October 1, 2009</th>
<td>90.58</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">November 1, 2009</th>
<td>82.1</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">December 1, 2009</th>
<td>92.95</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">January 1, 2010</th>
<td>91.58</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">February 1, 2010</th>
<td>80.73</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">March 1, 2010</th>
<td>74.12</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">April 1, 2010</th>
<td>88.76</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">May 1, 2010</th>
<td>88.96</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">June 1, 2010</th>
<td>96.45</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">July 1, 2010</th>
<td>79.38</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">August 1, 2010</th>
<td>80.99</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">September 1, 2010</th>
<td>71.17</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">October 1, 2010</th>
<td>65.99</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">November 1, 2010</th>
<td>94.71</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">December 1, 2010</th>
<td>97.2</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">January 1, 2011</th>
<td>79.42</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">February 1, 2011</th>
<td>90.01</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">March 1, 2011</th>
<td>136.89</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">April 1, 2011</th>
<td>91.02</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">May 1, 2011</th>
<td>105.34</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">June 1, 2011</th>
<td>84.39</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">July 1, 2011</th>
<td>78.92</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">August 1, 2011</th>
<td>86.95</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">September 1, 2011</th>
<td>83.35</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">October 1, 2011</th>
<td>76.34</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">November 1, 2011</th>
<td>83.16</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">December 1, 2011</th>
<td>85.34</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">January 1, 2012</th>
<td>79.63</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">February 1, 2012</th>
<td>92.45</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">March 1, 2012</th>
<td>88.76</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">April 1, 2012</th>
<td>96.02</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">May 1, 2012</th>
<td>78.17</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">June 1, 2012</th>
<td>77.82</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">July 1, 2012</th>
<td>82.81</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">August 1, 2012</th>
<td>74.88</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">September 1, 2012</th>
<td>69.28</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">October 1, 2012</th>
<td>81.66</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">November 1, 2012</th>
<td>81.39</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">December 1, 2012</th>
<td>74.83</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">January 1, 2013</th>
<td>90.66</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">February 1, 2013</th>
<td>81.59</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">March 1, 2013</th>
<td>75.9</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">April 1, 2013</th>
<td>95.11</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">May 1, 2013</th>
<td>83.72</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">June 1, 2013</th>
<td>82.97</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">July 1, 2013</th>
<td>73.98</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">August 1, 2013</th>
<td>90.96</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">September 1, 2013</th>
<td>100.46</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">October 1, 2013</th>
<td>72.95</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">November 1, 2013</th>
<td>77.78</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">December 1, 2013</th>
<td>70.37</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">January 1, 2014</th>
<td>77.92</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">February 1, 2014</th>
<td>69</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">March 1, 2014</th>
<td>119.84</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">April 1, 2014</th>
<td>93.22</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">May 1, 2014</th>
<td>83.43</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">June 1, 2014</th>
<td>98.77</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">July 1, 2014</th>
<td>138.75</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">August 1, 2014</th>
<td>136.45</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">September 1, 2014</th>
<td>131.56</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">October 1, 2014</th>
<td>83.66</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">November 1, 2014</th>
<td>84.38</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">December 1, 2014</th>
<td>86.53</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">January 1, 2015</th>
<td>111.99</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">February 1, 2015</th>
<td>111.92</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">March 1, 2015</th>
<td>104.24</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">April 1, 2015</th>
<td>102.19</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">May 1, 2015</th>
<td>76.26</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">June 1, 2015</th>
<td>85.91</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">July 1, 2015</th>
<td>106.81</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">August 1, 2015</th>
<td>82.48</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">September 1, 2015</th>
<td>98.77</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">October 1, 2015</th>
<td>91.93</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">November 1, 2015</th>
<td>150.72</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">December 1, 2015</th>
<td>148.24</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">January 1, 2016</th>
<td>118.21</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">February 1, 2016</th>
<td>103.75</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">March 1, 2016</th>
<td>109.72</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">April 1, 2016</th>
<td>85.22</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">May 1, 2016</th>
<td>88.33</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">June 1, 2016</th>
<td>90.17</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">July 1, 2016</th>
<td>114.61</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">August 1, 2016</th>
<td>98.74</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">September 1, 2016</th>
<td>104.55</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">October 1, 2016</th>
<td>85.75</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">November 1, 2016</th>
<td>82.92</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">December 1, 2016</th>
<td>102.18</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">January 1, 2017</th>
<td>105.2</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">February 1, 2017</th>
<td>114.21</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">March 1, 2017</th>
<td>96.64</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">April 1, 2017</th>
<td>119.46</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">May 1, 2017</th>
<td>102.58</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">June 1, 2017</th>
<td>126.79</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">July 1, 2017</th>
<td>102.81</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">August 1, 2017</th>
<td>138.53</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">September 1, 2017</th>
<td>115.53</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">October 1, 2017</th>
<td>91.46</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">November 1, 2017</th>
<td>92.6</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">December 1, 2017</th>
<td>82.72</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">January 1, 2018</th>
<td>92.43</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">February 1, 2018</th>
<td>64.49</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">March 1, 2018</th>
<td>111.96</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">April 1, 2018</th>
<td>123.26</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">May 1, 2018</th>
<td>125.67</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">June 1, 2018</th>
<td>103.97</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">July 1, 2018</th>
<td>110.03</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">August 1, 2018</th>
<td>112.74</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">September 1, 2018</th>
<td>75.05</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">October 1, 2018</th>
<td>92.02</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">November 1, 2018</th>
<td>80.41</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">December 1, 2018</th>
<td>90.61</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">January 1, 2019</th>
<td>87.42</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">February 1, 2019</th>
<td>96.8</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">March 1, 2019</th>
<td>82.33</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">April 1, 2019</th>
<td>79.25</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">May 1, 2019</th>
<td>106.47</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">June 1, 2019</th>
<td>106.59</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">July 1, 2019</th>
<td>93.52</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">August 1, 2019</th>
<td>103.4</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">September 1, 2019</th>
<td>90.37</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">October 1, 2019</th>
<td>97.84</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">November 1, 2019</th>
<td>73.08</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">December 1, 2019</th>
<td>74.28</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">January 1, 2020</th>
<td>138.42</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">February 1, 2020</th>
<td>75.96</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">March 1, 2020</th>
<td>81.54</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">April 1, 2020</th>
<td>69.34</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">May 1, 2020</th>
<td>68.51</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">June 1, 2020</th>
<td>71.23</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">July 1, 2020</th>
<td>66.47</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">August 1, 2020</th>
<td>65.47</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">September 1, 2020</th>
<td>80.38</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">October 1, 2020</th>
<td>76.08</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">November 1, 2020</th>
<td>70.07</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">December 1, 2020</th>
<td>64.07</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">January 1, 2021</th>
<td>77.42</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">February 1, 2021</th>
<td>73.96</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">March 1, 2021</th>
<td>78.62</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">April 1, 2021</th>
<td>88.17</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">May 1, 2021</th>
<td>93.01</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">June 1, 2021</th>
<td>74.13</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">July 1, 2021</th>
<td>58.42</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">August 1, 2021</th>
<td>89.49</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">September 1, 2021</th>
<td>80.7</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">October 1, 2021</th>
<td>79.03</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">November 1, 2021</th>
<td>86.57</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">December 1, 2021</th>
<td>105.35</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">January 1, 2022</th>
<td>138.67</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">February 1, 2022</th>
<td>216.16</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">March 1, 2022</th>
<td>318.95</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">April 1, 2022</th>
<td>191.14</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">May 1, 2022</th>
<td>142.26</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">June 1, 2022</th>
<td>130.71</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">July 1, 2022</th>
<td>117.18</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">August 1, 2022</th>
<td>132.86</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">September 1, 2022</th>
<td>131.99</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">October 1, 2022</th>
<td>143.16</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">November 1, 2022</th>
<td>116.72</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">December 1, 2022</th>
<td>111.2</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">January 1, 2023</th>
<td>104.27</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">February 1, 2023</th>
<td>120.99</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">March 1, 2023</th>
<td>105.38</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">April 1, 2023</th>
<td>106.81</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">May 1, 2023</th>
<td>108.47</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">June 1, 2023</th>
<td>110.53</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">July 1, 2023</th>
<td>107.45</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">August 1, 2023</th>
<td>101.14</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">September 1, 2023</th>
<td>98.63</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">October 1, 2023</th>
<td>197.89</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">November 1, 2023</th>
<td>156.7</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">December 1, 2023</th>
<td>142.28</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">January 1, 2024</th>
<td>160.37</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">February 1, 2024</th>
<td>146.6</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">March 1, 2024</th>
<td>133.21</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">April 1, 2024</th>
<td>163.95</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">May 1, 2024</th>
<td>130.52</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">June 1, 2024</th>
<td>113.09</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">July 1, 2024</th>
<td>92.39</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">August 1, 2024</th>
<td>140.98</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">September 1, 2024</th>
<td>130.36</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">October 1, 2024</th>
<td>130.69</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">November 1, 2024</th>
<td>128.9</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">December 1, 2024</th>
<td>142.37</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">January 1, 2025</th>
<td>113.23</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">February 1, 2025</th>
<td>136.97</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">March 1, 2025</th>
<td>173.91</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">April 1, 2025</th>
<td>140.97</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">May 1, 2025</th>
<td>165.66</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">June 1, 2025</th>
<td>222.38</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">July 1, 2025</th>
<td>134.02</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">August 1, 2025</th>
<td>138.56</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">September 1, 2025</th>
<td>125.87</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">October 1, 2025</th>
<td>154.51</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">November 1, 2025</th>
<td>104.34</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">December 1, 2025</th>
<td>131.39</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">January 1, 2026</th>
<td>167.8</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">February 1, 2026</th>
<td>121.62</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">March 1, 2026</th>
<td>297.27</td>
</tr>
</tbody></table></div>
</details>
</footer>
</div>
<div class="double-second">
<figcaption class="panel-heading boxAttachedSubtitle">Chart 0.2
</figcaption>
<div class="panel-body"> <img class="img-responsive full-width"
src="./img/chart0-2-eng.svg" alt="Chart image" />
</div>
<footer class="panel-footer">
<p class="small">Sources: PolicyUncertainty.com, Haver Analytics, Bloomberg.</p>
<details class="mrgn-tp-sm">
<summary>Text version</summary>
<p>This chart shows the daily WTI price of oil, along with monthly futures
pricing. It illustrates that the oil price has surged recently, but is
expected to gradually decline through the end of 2027.</p>
</details>
</footer>
</div>
</div>
</figure>
<h3 id="a5">The Canadian Economy Is Resilient</h3>
<p>In this more fragmented and unpredictable world, Canada's approach is clear: we will be
principled and pragmatic. We are acting decisively to protect our economic sovereignty,
strengthen our strategic industries, and position Canada for long-term growth.</p>
<p>Canada starts from a position of strength. Our economic fundamentals remain among the strongest
in the world, supported by:</p>
<ul>
<li><strong>Talent:</strong> A highly skilled, adaptable, and the most educated workforce in
the world.</li>
<li><strong>Resources:</strong> A vast reserve of critical minerals, a clean and conventional
energy superpower, and a strong agri-food industry.</li>
<li><strong>Resilience:</strong> A strong social safety net and stable institutions.</li>
<li><strong>Market access</strong>: The only G7 country with comprehensive free trade agreements
with all other G7 countries.</li>
<li><strong>Rule of law:</strong> A stable and reliable financial system, an independent
judiciary, and transparent governments.</li>
<li><strong>Investment attractiveness:</strong> A favourable environment for investment that
attracts global capital, drives growth, and creates high-paying careers.</li>
<li><strong>Tax competitiveness:</strong> The lowest overall tax burden in the G7 on new
business investment.</li>
</ul>
<figure class="panel panel-default boxAttached">
<div class="boxAttachedTitle">
<p><span class="lead"><strong>Canada Is the Second Fastest-Growing G7
Economy</strong></span><br>
IMF Forecast for 2026 Real GDP Growth in G7</p>
</div>
<figcaption class="panel-heading boxAttachedSubtitle">Chart 0.3
</figcaption>
<div class="panel-body"> <img class="img-responsive full-width" src="./img/chart0-3-eng.svg"
alt="Chart image" />
</div>
<footer class="panel-footer">
<p class="small">Source: IMF, <em>World Economic Outlook</em>, April 2026.</p>
<details class="mrgn-tp-sm">
<summary>Text version</summary>
<div class="table-responsive" id="t2">
<table class="table table-bordered">
<thead>
<tr class="bg-dark text-white">
<th class="" scope="col">Country</th>
<th class="text-right" scope="col">Percentage (%)</th>
</tr>
</thead>
<tbody>
<tr class="text-right">
<th scope="row" class="fnt-nrml">United States</th>
<td>2.3</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Canada</th>
<td>1.5</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Eurozone</th>
<td>1.1</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">France</th>
<td>0.9</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">United<br>Kingdom</th>
<td>0.8</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Germany</th>
<td>0.8</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Japan</th>
<td>0.7</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Italy</th>
<td>0.5</td>
</tr>
</tbody>
</table>
</div>
</details>
</footer>
</figure>
<h3 id="a6">Direct Investment Into Canada at a 20-Year High </h3>
<p><strong>Canada is emerging as a premier destination for global investment: </strong></p>
<ul>
<li>Direct investment into Canada is at its highest level in nearly two decades. </li>
<li>Canada has secured $97 billion in foreign investment and more than 20 new economic and
defence partnerships across four continents in the last year. </li>
<li>A network of trade agreements spanning 51 countries and nearly two-thirds of global GDP
positions Canada at the centre of a reconfigured global economy. </li>
</ul>
<p><strong>Momentum is building at home: </strong></p>
<ul>
<li>Canadian institutional investors, including pension funds, are stepping up and working with
governments to unlock new opportunities.<br>
</li>
</ul>
<div class="chapter-well">
<h4>Attracting New Investment</h4>
<p>The Spring Economic Update proposes to further position Canada as a leading investment
destination and a trusted convener of global capital through: </p>
<ul>
<li>Canada's first Investment Summit in September 2026.</li>
<li>A Sustainable Finance conference in the coming year.</li>
</ul>
</div>
<figure class="panel panel-default boxAttached">
<div class="boxAttachedTitle">
<p><span class="lead"><strong>Canada Leads the G7 in Direct Investment Inflows Per
Capita</strong></span></p>
</div>
<figcaption class="panel-heading boxAttachedSubtitle">Chart 0.4
</figcaption>
<div class="panel-body"> <img class="img-responsive full-width" src="./img/chart0-4-eng.svg"
alt="Chart image" />
</div>
<footer class="panel-footer">
<p class="small">Source: Organisation for Economic Co-operation and Development.</p>
<details class="mrgn-tp-sm">
<summary>Text version</summary>
<div class="table-responsive" id="t3">
<table class="table table-bordered">
<thead>
<tr class="bg-dark text-white">
<th class="" scope="col"></th>
<th class="text-right" scope="col"><strong>2025 Q1 - 2025 Q3</strong></th>
</tr>
</thead>
<tbody>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Japan</th>
<td>107</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Italy</th>
<td>427</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">France</th>
<td>429</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Germany</th>
<td>515</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">U.K.</th>
<td>626</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">U.S.</th>
<td>656</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Canada</th>
<td>1,231</td>
</tr>
</tbody>
</table>
</div>
</details>
</footer>
</figure>
<h3 id="a7">Canada Is the Most Competitive Jurisdiction in the G7 for New Business
Investment and Trade</h3>
<figure class="panel panel-default boxAttached">
<div class="boxAttachedTitle">
<p><span class="lead"><strong>Lowest Marginal Effective Tax Rate (METR) in the
G7</strong></span></p>
</div>
<div class="panel-heading boxAttachedSubtitle">
<p>The METR provides an estimate of the level of taxation on new business investments made
by corporations.</p>
<p>Canada's overall METR advantage reflects generous expensing provisions, available
broad-based investment tax credits, and value added taxes that provide corporations with
input tax credits for tax paid on inputs.</p>
</div>
<figcaption class="panel-heading boxAttachedSubtitle">Chart 0.5
</figcaption>
<div class="panel-body"> <img class="img-responsive full-width" src="./img/chart0-5-eng.svg"
alt="Chart image" />
</div>
<footer class="panel-footer">
<p class="small">Source: Department of Finance Canada calculations.</p>
<details class="mrgn-tp-sm">
<summary>Text version</summary>
<div class="table-responsive" id="t4">
<table class="table table-bordered">
<thead>
<tr class="bg-dark text-white">
<th class="" scope="col">Country</th>
<th class="text-right" scope="col">METR</th>
</tr>
</thead>
<tbody>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Canada</th>
<td>15.4</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">United States</th>
<td>16.9</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">OECD (average excluding Canada)</th>
<td>19.0</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Germany</th>
<td>22.1</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Italy</th>
<td>25.5</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">G7 (average excluding Canada)</th>
<td>26.0</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">France</th>
<td>29.3</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">United Kingdom</th>
<td>30.2</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Japan</th>
<td>31.7</td>
</tr>
</tbody>
</table>
</div>
</details>
</footer>
</figure>
<figure class="panel panel-default boxAttached">
<div class="boxAttachedTitle">
<p><span class="lead"><strong>Canada Is Building a World-Class Trade Network</strong></span>
</p>
</div>
<div class="panel-heading boxAttachedSubtitle">
<p>Canada has preferential access to about 1.5 billion consumers across 15 free trade
agreements, 51 countries, and nearly two-thirds of global gross domestic product (GDP).
<strong>Canada is also the only G7 country with a comprehensive free trade agreement
with all other G7 countries</strong>. To meet our goal of doubling non-U.S. goods
and services exports over the next decade, the government is pursuing new opportunities
through the negotiation of additional trade agreements.</p>
</div>
<figcaption class="panel-heading boxAttachedSubtitle">Figure 0.3</figcaption>
<div class="panel-body"> <img class="img-responsive full-width" src="./img/fig0-3-eng.jpg"
alt="Chart image" />
</div>
</figure>
<p>In this environment, Canada is redefining its international, commercial, and security
relationships. We must build strength at home, and we must do it while choosing to work with our
allies and forging new relationships with trusted partners. We recognise the world as it is, and
we choose to adapt to thrive.</p>
<figure class="panel panel-default boxAttached">
<div class="boxAttachedTitle">
<p><span class="lead"><strong>Pivoting Towards New Markets</strong></span><br>
Canadian Exporters Are Making Headway Into Non-U.S. Markets</p>
</div>
<figcaption class="panel-heading boxAttachedSubtitle">Chart 0.6
</figcaption>
<div class="panel-body"> <img class="img-responsive full-width" src="./img/chart0-6-eng.svg"
alt="Chart image" />
</div>
<footer class="panel-footer">
<p class="small">Sources: Statistics Canada; Department of Finance Canada calculations.</p>
<details class="mrgn-tp-sm">
<summary>Text version</summary>
<div class="table-responsive" id="t5">
<table class="table table-bordered">
<thead>
<tr class="bg-dark text-white">
<th class="" scope="col"></th>
<th class="text-right" scope="col"><strong>U.S.</strong></th>
<th class="text-right" scope="col"><strong>Non-U.S.</strong></th>
</tr>
</thead>
<tbody>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Jan-2024</th>
<td>-1.6</td>
<td>-5.5</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Feb-2024</th>
<td>-2.8</td>
<td>-1.9</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Mar-2024</th>
<td>-2.9</td>
<td>-1.9</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Apr-2024</th>
<td>-1.1</td>
<td>1.6</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">May-2024</th>
<td>-0.4</td>
<td>-4.0</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Jun-2024</th>
<td>1.1</td>
<td>-2.8</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Jul-2024</th>
<td>1.7</td>
<td>-5.4</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Aug-2024</th>
<td>0.6</td>
<td>-0.4</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Sep-2024</th>
<td>-0.4</td>
<td>-1.4</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Oct-2024</th>
<td>-2.5</td>
<td>4.8</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Nov-2024</th>
<td>-0.9</td>
<td>4.0</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Dec-2024</th>
<td>2.2</td>
<td>6.2</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Jan-2025</th>
<td>8.7</td>
<td>3.7</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Feb-2025</th>
<td>11.2</td>
<td>0.3</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Mar-2025</th>
<td>8.9</td>
<td>3.4</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Apr-2025</th>
<td>-1.3</td>
<td>7.4</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">May-2025</th>
<td>-9.3</td>
<td>18.4</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Jun-2025</th>
<td>-13.5</td>
<td>19.2</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Jul-2025</th>
<td>-11.0</td>
<td>16.6</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Aug-2025</th>
<td>-9.9</td>
<td>11.3</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Sep-2025</th>
<td>-8.3</td>
<td>12.1</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Oct-2025</th>
<td>-9.4</td>
<td>21.3</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Nov-2025</th>
<td>-9.5</td>
<td>28.9</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Dec-2025</th>
<td>-10.5</td>
<td>34.8</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Jan-2026</th>
<td>-11.8</td>
<td>32.1</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Feb-2026</th>
<td>-11.6</td>
<td>36.3</td>
</tr>
</tbody>
</table>
</div>
</details>
</footer>
</figure>
<figure class="panel panel-default boxAttached">
<div class="boxAttachedTitle">
<p><span class="lead"><strong>Canada Has the Best Deal of Major U.S. Trading
Partners</strong></span></p>
</div>
<div class="panel-heading boxAttachedSubtitle">
<p>With approximately 85% of our goods trade tariff-free, Canadian exporters enjoy the
lowest average U.S. tariff among all major trading partners, although some sectors
remain deeply impacted.</p>
</div>
<figcaption class="panel-heading boxAttachedSubtitle">Chart 0.7
</figcaption>
<div class="panel-body"> <img class="img-responsive full-width" src="./img/chart0-7-eng.svg"
alt="Chart image" />
</div>
<footer class="panel-footer">
<p class="small">Sources: Global Affairs Canada, Department of Finance Canada calculations.
</p>
<details class="mrgn-tp-sm">
<summary>Text version</summary>
<div class="table-responsive" id="t6">
<table class="table table-bordered">
<thead>
<tr class="bg-dark text-white">
<th class="" scope="col"></th>
<th class="text-right" scope="col">Average Tariff Rate</th>
</tr>
</thead>
<tbody>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Canada</th>
<td>5.2</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Global</th>
<td>11.4</td>
</tr>
</tbody>
</table>
</div>
</details>
</footer>
</figure>
<h3 id="a8">Canada Maintains Fiscal Discipline </h3>
<p>Our focus is clear and disciplined. We are concentrating on what we can control: maintaining
fiscal sustainability while making targeted, high-impact investments for Canadians. This means
lowering the operating deficit over time, maintaining our fiscal anchors, and ensuring that
every dollar spent on behalf of Canadians supports growth, resilience, and improving the
well-being of Canadians.</p>
<figure class="panel panel-default boxAttached">
<div class="boxAttachedTitle">
<p><span class="lead"><strong>Spring Economic Update projected deficit will be $11 billion
lower in 2025-26 than in Budget 2025, and by 2028-29, will entirely support
capital investments</strong></span></p>
</div>
<figcaption class="panel-heading boxAttachedSubtitle">Chart 0.8
</figcaption>
<div class="panel-body"> <img class="img-responsive full-width" src="./img/chart0-8-eng.svg"
alt="Chart image" />
</div>
<footer class="panel-footer">
<p class="small">Source: Department of Finance Canada calculations.</p>
<details class="mrgn-tp-sm">
<summary>Text version</summary>
<div class="table-responsive" id="t7">
<table class="table table-bordered">
<thead>
<tr class="bg-dark text-white">
<th class="" scope="col">($B)</th>
<th class="text-right" scope="col">2025-2026</th>
<th class="text-right" scope="col">2026-2027</th>
<th class="text-right" scope="col">2027-2028</th>
<th class="text-right" scope="col">2028-2029</th>
<th class="text-right" scope="col">2029-2030</th>
<th class="text-right" scope="col">2030-2031</th>
</tr>
</thead>
<tbody>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Contribution of capital investments to
deficit</th>
<td>41</td>
<td>55</td>
<td>58</td>
<td>58</td>
<td>56</td>
<td>53</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Day-to-day operating deficit</th>
<td>26</td>
<td>10</td>
<td>5</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Total</th>
<td>67</td>
<td>65</td>
<td>63</td>
<td>58</td>
<td>56</td>
<td>53</td>
</tr>
</tbody>
</table>
</div>
</details>
</footer>
</figure>
<figure class="panel panel-default boxAttached">
<div class="boxAttachedTitle">
<p><span class="lead"><strong>Canada Has One of the Strongest Fiscal Positions in the
G7</strong></span><br>
Deficit-to-GDP Ratio (All Levels of Government)</p>
</div>
<figcaption class="panel-heading boxAttachedSubtitle">Chart 0.9
</figcaption>
<div class="panel-body"> <img class="img-responsive full-width" src="./img/chart0-9-eng.svg"
alt="Chart image" />
</div>
<footer class="panel-footer">
<p class="small">Source: IMF, <em>Fiscal Monitor</em>, April 2026.</p>
<details class="mrgn-tp-sm">
<summary>Text version</summary>
<div class="table-responsive" id="t8">
<table class="table table-bordered">
<thead>
<tr class="bg-dark text-white">
<th class="" scope="col"> </th>
<th class="text-right" scope="col">2024</th>
<th class="text-right" scope="col">2025</th>
<th class="text-right" scope="col">2026F</th>
<th class="text-right" scope="col">2027F</th>
<th class="text-right" scope="col">2028F</th>
<th class="text-right" scope="col">2029F</th>
<th class="text-right" scope="col">2030F</th>
</tr>
</thead>
<tbody>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Canada</th>
<td>2.1</td>
<td>1.8</td>
<td>2.7</td>
<td>2.5</td>
<td>2.2</td>
<td>2.0</td>
<td>1.7</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Average of other G7 countries</th>
<td>4.6</td>
<td>4.0</td>
<td>4.2</td>
<td>4.1</td>
<td>4.0</td>
<td>3.8</td>
<td>3.8</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Min of other G7</th>
<td>1.7</td>
<td>1.1</td>
<td>2</td>
<td>2.4</td>
<td>2.4</td>
<td>2</td>
<td>1.7</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Max of other G7</th>
<td>7.9</td>
<td>6.8</td>
<td>7.5</td>
<td>7.4</td>
<td>7.6</td>
<td>7.5</td>
<td>7.5</td>
</tr>
</tbody>
</table>
</div>
</details>
</footer>
</figure>
<figure class="panel panel-default boxAttached">
<div class="boxAttachedTitle">
<p><span class="lead"><strong>Canada’s Strong Fiscal Position Enables Us to Respond to
Global Challenges</strong></span><br>
Canada Has the Lowest Net Debt-to-GDP Ratio in the G7</p>
</div>
<figcaption class="panel-heading boxAttachedSubtitle">Chart 0.10
</figcaption>
<div class="panel-body"> <img class="img-responsive full-width" src="./img/chart0-10-eng.svg"
alt="Chart image" />
</div>
<footer class="panel-footer">
<p class="small">All Levels of Government Net Debt-to-GDP Ratio, 2025</p>
<p class="small">Source: IMF, <em>Fiscal Monitor</em>, April 2026.</p>
<details class="mrgn-tp-sm">
<summary>Text version</summary>
<div class="table-responsive" id="t9">
<table class="table table-bordered">
<thead>
<tr class="bg-dark text-white">
<th class="" scope="col"></th>
<th class="text-right" scope="col">2025</th>
</tr>
</thead>
<tbody>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Japan</th>
<td>1.365</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Italy</th>
<td>1.277</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">France</th>
<td>1.088</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">United States</th>
<td>0.967</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">United Kingdom</th>
<td>0.938</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Germany</th>
<td>0.472</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Canada</th>
<td>0.102</td>
</tr>
</tbody>
</table>
</div>
</details>
</footer>
</figure>
<p class="bigMiddle">Our government spends less, builds more, and delivers better — we are investing
in Canada’s future.</p>
</section>
<section class="section-brown">
<div class="section-banner">
<div class="banner-content">
<h2 id="a9">Making Life More Affordable for Canadians</h2>
</div>
<div class="banner-img"></div>
</div>
<p>The global landscape is rapidly changing, leaving businesses, workers, and families under a cloud
of uncertainty. In response, Canada's new government is focused on what we control:
building a stronger economy to bring down costs for Canadians. </p>
<p>Our plan is moving Canada's economy from reliance to resilience. We are advancing major projects
that connect and transform our nation, turbocharging housing construction, catalysing an
entirely new housing industry, and forging new economic and security partnerships. Some of the
biggest long-term payoffs of this transformation will take time to be felt. To ensure Canadians
have the support they need right now, the government is providing a boost today and a bridge to
a better tomorrow.</p>
<p>For over a year, Canada's new government has been relentlessly focused on making life more
affordable for Canadians:</p>
<ul>
<li>Nearly 22 million Canadians are keeping more of what they earn, with the
<strong>middle-class tax cut</strong> saving a two-income family up to $840 this year.</li>
<li><strong>First-time home buyers</strong> are saving up to $50,000, with the removal or
reduction of the Goods and Services Tax on new homes.</li>
<li>The <strong>removal of the consumer carbon price</strong> driving gas prices down by about
18 cents per litre across most provinces and territories. </li>
<li>Reducing Canadians' bills at the gas station by up to 10 cents per litre on regular
gasoline and 4 cents on diesel by temporarily <strong>suspending the federal</strong>
<strong>fuel excise tax.</strong> </li>
<li>More than 12 million Canadians will receive hundreds of dollars more in their bank
accounts through the new <strong>Canada Groceries and Essentials Benefit</strong>. </li>
<li><strong>Canadians are</strong> <strong>paying less in</strong> <strong>banking
fees</strong>, with new rules capping non-sufficient funds fees at $10 and strengthening
consumer protections.</li>
<li><strong>Enhanced low-cost and no-cost bank accounts</strong> to offer all Canadians
access to up to 50 per cent more debit transactions at a cost of no more than
$4 per month.</li>
<li>Young Canadians are gaining opportunities to work and build careers, with 175,000 placements
supported in 2026-27 through <strong>Canada Summer Jobs</strong>, the horizontal
<strong>Youth Employment and Skills Strategy</strong>, and the <strong>Student Work
Placement Program</strong>.</li>
<li>Starting <strong>automatic federal benefits </strong>for the 2026 tax year, with pre-filled
returns for up to 5.5 million low-income Canadians by the 2028 tax year, ensures
that support reaches those who need it most.</li>
<li>Families and young people are travelling and exploring Canada for less, supported by the
renewed <strong>Canada Strong Pass</strong>.</li>
<li>Supporting <strong>Canadian brewers, distillers and wineries </strong>and helping ease cost
pressures with extended tax relief.</li>
</ul>
<figure class="panel panel-default">
<figcaption class="panel-heading boxAttachedSubtitle">Figure 0.4<br>
<b>Key National Affordability Benefits for Canadians</b>
</figcaption>
<div class="panel-body"> <img class="img-responsive full-width" src="./img/fig0-4-eng.png"
alt="Chart image" />
</div>
<footer class="panel-footer">
<details class="mrgn-tp-sm">
<summary>Text version</summary>
<div class="table-responsive">
<table class="table table-bordered">
<caption class="text-left fnt-nrml">
<strong>Key National Affordability Benefits for Canadians</strong>
</caption>
<thead>
<tr class="bg-dark text-white">
<th class="" scope="col">Program</th>
<th scope="col">Number of beneficiaries</th>
<th scope="col">Maximum benefit</th>
</tr>
</thead>
<tbody>
<tr>
<th scope="row" class="fnt-nrml">Canada Child Benefit<sup>1</sup></th>
<td>6M</td>
<td>$15,040</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml">National School Food Program<sup>1</sup></th>
<td>400K</td>
<td>$800</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml">Canada Disability Benefit<sup>2</sup></th>
<td>465K</td>
<td>$2,400</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml">Canada Groceries and Essentials Benefit<sup>1</sup></th>
<td>>12M</td>
<td>$1,891</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml">Early Learning Child and Child Care system<sup>1</sup></th>
<td>900K</td>
<td>50% fee reduction or more</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml">Canada Workers Benefit<sup>1</sup></th>
<td>3M</td>
<td>$2,869</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml">Canadian Dental Care Plan<sup>1</sup></th>
<td>6.5M</td>
<td>$2,954</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml">Old Age Security Program<sup>3</sup></th>
<td>7.5M</td>
<td>$23,103</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml">Canada Student Loans and Grants<sup>4</sup></th>
<td>730K</td>
<td>$14,400</td>
</tr>
<tr>
<th scope="row" class="fnt-nrml">Temporary Suspension of Federal Fuel Excise Tax <sup>5</sup></th>
<td>>25M</td>
<td>$5.75 on a 50L tank of gasoline</td>
</tr>
</tbody>
<tfoot>
<tr class="small">
<td colspan="3">
<p><sup>1</sup> Illustrative dollar amounts are for a family of four, with children up to age 12. Benefits are maximum amounts available other than the Canadian Dental Care Plan (CDCP) and the National School Food Program (NSFP). CDCP is based on a typical dental service mix for a household with an adjusted family net income below $70K. NSFP is based on average savings for a family with two children.</p>
<p><sup>2</sup> Maximum amount for one adult aged 18 to 64 holding a valid Disability Tax Credit certificate.</p>
<p><sup>3</sup> Combined maximum for the Old Age Security Program and the Guaranteed Income Supplement for a single senior aged 75 and older (annualised amounts based on benefits for the first quarter of 2026).</p>
<p><sup>4</sup> This reflects the current maximum student aid for the academic year for a full-time student in financial need. Students with dependants or a disability are eligible for additional assistance. Number of beneficiaries corresponds only to participating provinces and territories. Quebec, Northwest Territories, and Yukon receive alternative payments from the federal government to provide comparable supports in their jurisdictions.</p>
<p><sup>5</sup> Assuming full pass-through of relief, all Canadians benefit from the pause in FET through its direct and indirect impacts on consumer prices.</p>
</td>
</tr>
</tfoot>
</table>
</div>
</details>
</footer>
</figure>
<h3 id="a10">Making Groceries and Essentials More Affordable</h3>
<p>Our government has introduced new measures to make groceries and other essentials more affordable
for Canadians:</p>
<ul>
<li>
<p>The new <strong>Canada Groceries and Essentials Benefit</strong> will provide additional,
significant support for more than 12 million Canadians.</p>
<ul>
<li>Formerly the Goods and Services Tax (GST) Credit, we are increasing its amount
by 25 per cent for five years as of July 2026.</li>
<li>Combined, this means that a family of four will receive up to $1,890 this year,
and about $1,400 a year for the next four years; and a single person will receive up
to $950 this year, and about $700 a year for the next four years. </li>
</ul>
</li>
<li>An additional $20 million has been provided to the <strong>Local Food Infrastructure
Fund</strong> to ease pressures on food banks, and immediate expensing was announced for
greenhouse buildings to support increased domestic supply and investment in food production.
</li>
<li>We are providing $36 million to address food security and affordability in the North
through the <strong>Nutrition North Canada Retail Subsidy Program</strong> and the
<strong>Northern Isolated Community Initiatives Fund</strong>. </li>
<li>We have made the <strong>National School Food Program </strong>permanent, which will provide
up to 400,000 children with meals at school each year, helping families save an average
of $800 annually.</li>
</ul>
<div class="date-highlight">
<p><strong>June 5</strong></p>
<p>As part of the new Canada Groceries and Essentials Benefit, those eligible will receive — as
soon as June 5<sup>th</sup> — a one-time top-up payment equivalent to a
50 per cent increase in the 2025-26 annual value of the GST Credit.</p>
</div>
<figure class="panel panel-default">
<figcaption class="panel-heading boxAttachedSubtitle">Figure 0.5<br>
<b>Ensuring Food Security for Canadians</b>
</figcaption>
<div class="panel-body"> <img class="img-responsive full-width" src="./img/fig0-5-eng.png"
alt="Chart image" />
</div>
<footer class="panel-footer">
<details class="mrgn-tp-sm">
<summary>Text version</summary>
<p><strong>Ensuring food security for Canadians</strong></p>
<ol>
<li>
<p><strong>The Canada Groceries and Essentials Benefit</strong> to help >12 million Canadians afford day-to-day essentials</p>
<div class="table-responsive">
<table class="table table-bordered">
<thead>
<tr class="bg-dark text-white">
<th class="" scope="col"></th>
<th class="text-right" scope="col">Base GST Credit</th>
<th class="text-right" scope="col">25% increase</th>
<th class="text-right" scope="col">50% One Time Top Up<br>
(June 2026)</th>
<th class="text-right" scope="col">Total Benefits</th>
</tr>
</thead>
<tbody>
<tr class="text-right">
<th scope="row" class="fnt-nrml"><strong>Single person</strong></th>
<td>$543</td>
<td>$136</td>
<td>$267</td>
<td><strong>~$950</strong></td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml"><strong>Couple, no children</strong></th>
<td>$712</td>
<td>$178</td>
<td>$349</td>
<td><strong>~$1,240</strong></td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml"><strong>Couple, 2 children</strong></th>
<td>$1,086</td>
<td>$272</td>
<td>$533</td>
<td><strong>~$1,890</strong></td>
</tr>
</tbody>
<tfoot>
<tr class="small">
<td colspan="5"><p>Numbers may not add up due to rounding.</p></td>
</tr>
</tfoot>
</table>
</div>
</li>
<li><strong>$500 million from the Strategic Response Fund</strong> to help Canadian food companies increase their capacity</li>
<li><strong>Immediate expensing for greenhouses</strong> to supercharge food production</li>
<li><strong>Additional funding for food banks</strong> to ease immediate pressure</li>
<li><strong>Develop a National Food Security Strategy</strong> to make food more affordable and strengthen domestic food production</li>
<li><strong>Work towards standardised unit price labelling</strong> with provinces and territories to help Canadians compare prices easily</li>
</ol>
</details>
</footer>
</figure>
<h3 id="a11">More Competition, Lower Costs</h3>
<p>Stronger competition pushes businesses to become more innovative and operate more efficiently.
Over time, these productivity gains translate into lower costs, greater choice, and better wages
for Canadians. Yet over the past two decades, competitive intensity across the Canadian economy
has weakened. Strengthening competition will be essential to delivering sustained
affordability gains for Canadians. </p>
<p>At a time when Canadians are facing heightened affordability pressures from sources beyond our
control, it is more important than ever that we press harder to find opportunities for
improvement within our control. To strengthen productivity and improve affordability, the Spring
Economic Update 2026 launches a new <strong>Whole-of-Government Competition Plan</strong> that
will take a focused and coordinated approach to ensure that competition is prioritised
throughout the federal government's policies. </p>
<p>The government is focusing on lower mobile and Internet plan prices by building on the 2023
direction to the Canadian Radio-television and Telecommunications Commission (CRTC) that places
stronger emphasis on competition, affordability, and consumer interests with a decision to
uphold a CRTC ruling on third-party access to fibre infrastructure in August 2025. The
government is also implementing a <strong>Telecommunications Competition Roadmap</strong>
outlining actions to improve consumer choice, pricing, and availability of services.</p>
<figure class="panel panel-default boxAttached">
<div class="boxAttachedTitle">
<p><span class="lead"><strong>Bringing Down Mobile Plan Costs</strong></span><br>
Mobile plans that once cost over $100 now cost far less, with more data for Canadians
</p>
</div>
<figcaption class="panel-heading boxAttachedSubtitle">Figure 0.6<br>
<b>Bringing Down Mobile Plan Costs</b>
</figcaption>
<div class="panel-body"> <img class="img-responsive full-width" src="./img/fig0-6-eng.png"
alt="Chart image" />
</div>
<footer class="panel-footer">
<p class="small">Sources: Company websites.</p>
<p class="small">Notes: Plans were selected based on comparable offerings. Plans with
international roaming as a standard feature were excluded, as were plans with
time-limited promotional pricing.</p>
<details class="mrgn-tp-sm">
<summary>Text version</summary>
<p>The figure compares mobile plan prices in December 2022 and March 2026. In December 2022, a typical plan with a large data allowance cost $105 per month for 60 GB of data.</p>
<p>By March 2026, several lower-cost options are shown with increased data:</p>
<ul>
<li>Plans costing $49 to $55 per month for 60 GB, representing savings of up to $56</li>
<li>Plans costing $59 to $70 per month for 80 GB, representing savings of up to $46</li>
<li>Plans costing $75 to $85 per month for 100 GB, representing savings of up to $30</li>
</ul>
<p>Arrows connect the 2022 price point to each 2026 option, illustrating the reduction in cost and increase in available data.</p>
</details>
</footer>
</figure>
<div class="chapter-well">
<br>
<p><strong>Competition only works when government ensures markets work. Continued decisive
action is needed to strengthen competition and ensure the economy operates at its best,
including:</strong></p>
<ul class="media-list lst-spcd mrgn-tp-md mrgn-bttm-md">
<li class="media">
<span class="glyphicon glyphicon-ok media-object pull-left mrgn-tp-sm"></span>
<div class="media-body">Advancing <strong>the Whole-of-Government Competition
Plan</strong> to ensure government policies prioritise competition</div>
</li>
<li class="media">
<span class="glyphicon glyphicon-ok media-object pull-left mrgn-tp-sm"></span>
<div class="media-body">Providing more choices and more affordable financial services
through consumer-driven banking and low-cost accounts</div>
</li>
<li class="media">
<span class="glyphicon glyphicon-ok media-object pull-left mrgn-tp-sm"></span>
<div class="media-body">Making it easier to renew or switch between home Internet, home
phone, and cell phone plans</div>
</li>
</ul>
</div>
</section>
<section class="section-green">
<div class="section-banner">
<div class="banner-content">
<h2 id="a12">An Economy Built <em>for all</em> Canadians</h2>
</div>
<div class="banner-img"></div>
</div>
<p>As Canadians build the strongest economy in the G7, we know that some of the biggest payoffs in
our plan will take time. That's why Canada's new government is standing with Canadians through
uncertain and rapidly changing times, acting responsibly to provide support today, and making
smart, long-term investments that strengthen Canada's economy. This means creating the
mechanisms to ensure Canadians thrive today and tomorrow, supporting workers and young people,
supercharging the housing sector, combatting financial crimes, and investing in strong
communities.</p>
<p><strong>Spring Economic Update 2026 introduces a number of flagship measures:</strong></p>
<ul>
<li><strong>Introducing Canada's Own Sovereign Wealth Fund — the new Canada Strong Fund</strong>
</li>
<li><strong>Launching Team Canada Strong to recruit, train, and hire 80,000 to 100,000 new
Red Seal skilled trades workers by 2030-31, aligned to Canada's housing, infrastructure,
and defence needs</strong></li>
<li><strong>Making life more affordable for Canadians</strong></li>
<li><strong>Building stronger and safer communities</strong></li>
</ul>
<div class="chapter-well">
<h4>Canada will establish its own sovereign wealth fund: Canada Strong Fund</h4>
<p>The <strong>Canada Strong Fund</strong> is a new national investment initiative designed to
strengthen Canada's economy and give Canadians a direct stake in its success.</p>
<p>The Fund will invest in key, strategic Canadian projects and companies, creating jobs,
supporting innovation, and helping Canada stay competitive in a rapidly changing world.
</p>
<p>Canadians will have the opportunity to invest in the Fund and share in the financial returns
generated by these projects.</p>
<p><strong>This is about building a stronger, more independent Canada where everyone can take
part and benefit.</strong></p>
<div class="maple-center">
<p>Canada<br>Strong<br>Fund</p>
</div>
<ul class="chevron-bar">
<li>
<div class="text">
<h5 class="mrgn-tp-sm">Strategic Investments</h5>
<p>Equity investments in projects and companies that build Canada</p>
</div>
<img alt="" src="./icons/icon0-1.svg">
</li>
<li>
<div class="text">
<h5 class="mrgn-tp-sm">Nation-Building Outcomes</h5>
<p>A stronger, more competitive, more sovereign Canada</p>
</div>
<img alt="" src="./icons/icon0-2.svg">
</li>
<li>
<div class="text">
<h5 class="mrgn-tp-sm">Returns to Canadians</h5>
<p>Individual investors to see returns directly based on performance of the Fund</p>
</div>
<img alt="" src="./icons/icon0-3.svg">
</li>
</ul>
</div>
<p class="bigMiddle">In a more uncertain world, Canada offers stability. In a more divided world,
Canada forges partnerships. And in a more competitive world, Canada invests decisively
in its future.</p>
<div class="chapter-well">
<h4>Supporting Workers and Young People</h4>
<p>Canada's future depends on the people building it. That's why the Spring Economic Update 2026
is focused on helping workers and young people gain the skills, experience, and support
they need to succeed.</p>
<p>We're making it easier to learn, train, and find meaningful opportunities: </p>
<ul>
<li>
<p><strong>Creating new opportunities for young Canadians</strong></p>
<p>Launching <strong>Team Canada Strong</strong> to recruit, train, and hire 80,000
to 100,000 new Red Seal skilled trades workers by 2030-31, aligned to Canada's
housing, infrastructure, and defence needs.</p>
</li>
<li>
<p><strong>Expanding training capacity to deliver results at scale</strong></p>
<p>Modernizing and increasing apprenticeship and Red Seal training capacity, working
with unions, employers, provinces and territories, and national institutions to
shorten timelines and improve outcomes.</p>
</li>
<li>
<p><strong>Removing financial barriers during apprenticeship training</strong></p>
<p>Introduce a new and redesigned <strong>Apprenticeship Grant</strong> that will
provide apprentices with a weekly income top-up of $400 per week while they are
attending mandatory in-class technical training for a total payment of up to $16,000
per apprentice, paid in addition to Employment Insurance.</p>
</li>
<li>
<p><strong>Making education more affordable</strong></p>
<p>Extend for the 2026-27 academic year the increases to <strong>Canada Student
Grants</strong> and interest-free <strong>Canada Student Loans</strong> —
571,000 students are expected to benefit from the increase to non-repayable grants,
and 422,000 students could benefit from the weekly loan limit increase.</p>
</li>
<li>
<p><strong>Helping tradespeople go where the work is</strong></p>
<p>Enhancing the <strong>Labour Mobility Deduction</strong> will make it more affordable
for skilled workers to travel to where jobs are available. </p>
</li>
<li>
<p><strong>Encouraging shared ownership </strong></p>
<p>Making the <strong>Employee Ownership Trust tax exemption</strong> permanent will
help more workers share in the success of the businesses they help build.</p>
</li>
</ul>
</div>
<div class="trades-section">
<div class="highlight-dark">
<h4>Our plan for a career in skilled trades</h4>
</div>
<div class="icon-text">
<div class="icon-text__icon">
<img src="./icons/icon0-4.svg" alt="">
</div>
<div class="icon-text__content">
<h4>Step 1: Join the Team Canada Strong Program</h4>
<ul>
<li>Start up to 4-month job placement to gain experience.</li>
</ul>
</div>
</div>
<div class="icon-text">
<div class="icon-text__icon">
<img src="./icons/icon0-5.svg" alt="">
</div>
<div class="icon-text__content">
<h4>Step 2 : Register as an apprentice and begin on-the-job training with either an
employer or a union training centre</h4>
<ul>
<li>Small and medium enterprises receive $10K wage incentive.</li>
</ul>
</div>
</div>
<div class="icon-text">
<div class="icon-text__icon">
<img src="./icons/icon0-6.svg" alt="">
</div>
<div class="icon-text__content">
<h4>Step 3: Complete your technical training at a college and through your employer or a
union training centre</h4>
<ul>
<li>Receive a $400 weekly Apprenticeship Grant.</li>
<li>Receive income supports if caught between training and work.</li>
</ul>
</div>
</div>
<div class="icon-text">
<div class="icon-text__icon">
<img src="./icons/icon0-7.svg" alt="">
</div>
<div class="icon-text__content">
<h4>Step 4: Get certified</h4>
<ul>
<li>Once certified in a Red Seal trade, receive $5K Completion Bonus.</li>
</ul>
</div>
</div>
<div class="icon-text">
<div class="icon-text__icon">
<img src="./icons/icon0-8.svg" alt="">
</div>
<div class="icon-text__content">
<h4>Step 5: Start career as a Red Seal tradesperson</h4>
<ul>
<li>Contribute to the Build Canada agenda.</li>
</ul>
</div>
</div>
<div class="armed-forces">
<h4>There will be new pathways to skilled trades through the Canadian Armed Forces</h4>
<p>Hands-on training through Cadets and Junior Canadian Rangers</p>
<p>Fully funded trades training for young Canadians joining the Canadian Armed Forces
Primary Reserve</p>
</div>
<div class="highlight-dark">
<h4>One process: faster and simpler (50% reduction in total time)</h4>
</div>
</div>
<div class="chapter-well">
<h4>Making Life More Affordable for Canadians</h4>
<p>Finding a place to live shouldn't feel out of reach. The Spring Economic Update 2026 builds
on <strong>Build Canada Homes</strong> with a plan to increase supply, lower costs, and help
more Canadians find a safe, affordable home.</p>
<p>We're taking action to build more homes, faster and smarter:</p>
<ul>
<li>
<p><strong>Cutting red tape to build homes faster</strong></p>
<p>Streamlining rules and modernising building codes will make it easier to construct
new homes, including factory-built and modular housing. </p>
</li>
<li>
<p><strong>Supporting innovation in construction</strong></p>
<p>Investing in new building technologies will help reduce costs and speed up
construction. </p>
</li>
<li>
<p><strong>Accelerating over $7 billion in low-cost financing to the Canada
Mortgage and Housing Corporation</strong></p>
<p>More affordable financing will help builders move projects forward sooner — getting
rental homes on the market faster. </p>
</li>
<li>
<p><strong>Helping those most in need</strong></p>
<p>Extending support for people experiencing homelessness and ensuring survivors of
gender-based violence have access to safe housing. </p>
</li>
<li>
<p><strong>Boosting housing supply across Canada</strong></p>
<p>Through the <em>Improving Housing Supply Act</em>, $1.7 billion will go to
provinces and territories to remove barriers and accelerate homebuilding, including
reducing development fees and levies on new home construction.</p>
</li>
<li>
<p><strong>Improving cash flows for home buyers</strong></p>
<p>Extending the grace period during which homeowners are not required
to start repaying their <strong>Home Buyers'
Plan</strong> withdrawals from their Registered Retirement Savings Plan.
</p>
</li>
<li>
<p><strong>Reducing the contribution rate of the base Canada Pension Plan</strong></p>
<p>With the unanimous support of provinces and territories.</p>
</li>
<li>
<p><strong>Making it easier to access the Disability Tax Credit </strong></p>
<p>Streamlining the application process for individuals with certain long-lasting
medical conditions.</p>
</li>
</ul>
</div>
<h3 id="a13">An Economy Built <em>by</em> Canadians</h3>
<p>Budget 2025 is translating our vision into real action through major projects, less red
tape, and generational infrastructure investments that move goods to market. The Spring Economic
Update 2026 builds on this momentum with strategic investments that support productivity,
growth, and competitiveness.</p>
<figure class="panel panel-default boxAttached">
<div class="boxAttachedTitle">
<p><span class="lead"><strong>Federal Investments in Sector Strategies Total Over $25 billion</strong></span><br>
Sector-specific strategies are helping firms and workers adapt and remain competitive.
</p>
</div>
<figcaption class="panel-heading boxAttachedSubtitle">Chart 0.11
</figcaption>
<div class="panel-body"> <img class="img-responsive full-width" src="./img/chart0-11-eng.svg"
alt="Chart image" />
</div>
<footer class="panel-footer">
<p class="small">Notes: Includes existing spending and spending announced in Budget 2025 and
this Spring Economic Update (including certain tax measures), covering 2025-2031 on a
cash basis. Total is smaller than the sum of individual strategies since some
initiatives support multiple strategies.</p>
<details class="mrgn-tp-sm">
<summary>Text version</summary>
<p>The chart shows the expected total federal investment on a cash basis
from 2025-26 to 2030-31 across various sector strategies, totaling
approximately $26 billion. The strategies include the Defence Industrial
Strategy, Automotive Strategy, Trade Diversification and Infrastructure Strategies,
Critical Minerals Strategy, and Nature Strategy.</p>
<div class="table-responsive" id="t10">
<table class="table table-bordered">
<thead>
<tr class="bg-dark text-white">
<th class="" scope="col"></th>
<th class="text-right" scope="col">Investment (2025-31) - CASH</th>
</tr>
</thead>
<tbody>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Defence Industrial Strategy</th>
<td>7.7</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Automotive Strategy</th>
<td>6.9</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Trade Diversification and
Infrastructure Strategies</th>
<td>5.7</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Critical Minerals Strategy</th>
<td>5.0</td>
</tr>
<tr class="text-right">
<th scope="row" class="fnt-nrml">Nature Strategy</th>
<td>3.7</td>
</tr>
</tbody>
</table>
</div>
</details>
</footer>
</figure>
<div class="icons-div">
<p class="light-bg">First Announced in Budget 2025</p>
<p class="dark-bg">Trade Diversification and Infrastructure Strategies</p>
<div class="icons-container">
<img alt="" src="./icons/icon0-9.svg">
<div class="icons-content">
<p>To ensure Canadian businesses can expand and double our exports to non-U.S. markets
over the next decade, we are providing direct support to exporters, opening access
to new markets, and modernising trade-enabling transportation systems and
infrastructure.</p>
<p>In order to support trade diversification, the government is examining options to
strengthen Canada's supply chains — backed by signing 20 new deals on four
continents.</p>
</div>
</div>
<p class="dark-bg">Critical Minerals Strategy</p>
<div class="icons-container">
<img alt="" src="./icons/icon0-10.svg">
<div class="icons-content">
<p>To grow Canada's critical minerals industry, we are promoting domestic production and
processing of critical minerals, safeguarding critical minerals value chains for our
economic sovereignty, and partnering with Indigenous groups, domestic stakeholders
and international allies. Canada has a broad suite of financing tools in place to
support this strategically important sector, and initiatives under the <strong>Critical Minerals Strategy</strong>, including dozens of new partnerships and
investments mobilising $18.5 billion in projects across the country — with the
Canada-led G7 Critical Minerals Production Alliance. The government
has referred five critical minerals projects to the Major Projects Office as part of
the two waves of nation building project announcements, such as Nouveau Monde
Graphite's Matawinie Mine in Québec and the McIlvenna Bay Foran Copper Mine Project
in Saskatchewan.</p>
</div>
</div>
<p class="dark-bg">Defence Industrial Strategy</p>
<div class="icons-container">
<img alt="" src="./icons/icon0-11.svg">
<div class="icons-content">
<p>To build Canada's defence manufacturing and technology base, we are prioritising
Canadian suppliers and materials in defence procurement, investing in Canadian
defence innovation and commercialisation, and streamlining procurement. </p>
<p>We are positioning Canadian industry to take advantage of the government's
generational investments in defence, creating significant economic benefits for
years to come — including 125,000 high-paying careers and support an estimated
$180 billion total direct investment in in defence procurement by 2035. This
will strengthen military supply chains, create good careers at home, and equip the
Canadian Armed Forces with the capabilities they need to protect Canada and our
Allies.</p>
</div>
</div>
</div>
<div class="icons-div">
<p class="light-bg">Since Budget 2025</p>
<p class="dark-bg">Automotive Strategy</p>
<div class="icons-container">
<img alt="" src="./icons/icon0-12.svg">
<div class="icons-content">
<p>To strengthen Canada's auto manufacturing sector and protect over 500,000 workers, we
are boosting investment, strengthening our climate goals, making electric vehicles
more affordable and reliable, and protecting Canadian auto workers.</p>
<p>In response to persisting and unjustified U.S. tariffs on Canadian-made vehicles, we
will maintain our reciprocal counter-tariffs and explore ways to leverage Canada's
automotive duty remission framework to reinforce domestic production, attract new
investment and enhance the sector's long-term competitiveness. We will also seek
ways to attract new investment, including by leveraging the recent arrangement on
electric vehicles with China.</p>
</div>
</div>
<p class="dark-bg">Nature Strategy</p>
<div class="icons-container">
<img alt="" src="./icons/icon0-13.svg">
<div class="icons-content">
<p>To build the clean and competitive economy of tomorrow, we are making significant
investments through the <strong>Nature Strategy to help conserve
30 per cent of Canada's lands and waters by 2030</strong>, ensure our
industrial strategies complement our conservation efforts, and advance actions to
value and mobilise capital for nature.</p>
</div>
</div>
</div>
</section>
<section class="section-yellow">
<div class="section-banner">
<div class="banner-content">
<h2 id="a14">Building Stronger and Safer Communities</h2>
</div>
<div class="banner-img"></div>
</div>
<div class="chapter-well">
<h4>Empowering Canadians</h4>
<p>Strong communities are the foundation of a strong Canada. The Spring Economic Update 2026
invests in the services and supports that keep communities safe, welcoming, and resilient —
so Canadians can stay informed, access essential services delivered in both official
languages, and thrive where they live.</p>
<p>Key actions include: </p>
<ul>
<li>
<p><strong>Supporting trusted, independent journalism</strong></p>
<p>Extending the <strong>Canadian Journalism Labour Tax Credit</strong> to help sustain
high-quality local news and keep Canadians informed. </p>
</li>
<li>
<p><strong>Investing in Indigenous communities</strong></p>
<p>Providing significant funding for essential services, including health benefits and
culturally relevant education, to support stronger, healthier communities. </p>
</li>
<li>
<p><strong>Investing in sport — from playground to podium</strong></p>
<p>Investing $755 million to expand access to sport, creating opportunities for
Canadians to build meaningful relationships within their communities, making full
use of existing and new infrastructure, and to support Canada's world class athletes
who inspire pride and unity, as we celebrate their accomplishments as a nation. </p>
</li>
<li>
<p><strong>Protecting coastal livelihoods</strong></p>
<p>Investing nearly $1 billion to repair and maintain small craft harbours —
supporting jobs, local economies, and the future of coastal communities.</p>
</li>
<li>
<p><strong>Making it easier to access the Disability Tax Credit</strong></p>
<p>Streamlining the application process for individuals with certain long-lasting
medical conditions and expanding the list of medical practitioners who can certify
eligibility for the <strong>Disability Tax Credit</strong> will help ensure that
Canadians with severe disabilities have access to the supports they need, including
under the <strong>Canada Disability Benefit</strong>.</p>
</li>
</ul>
</div>
<div class="chapter-well">
<h4>Protecting Communities</h4>
<p>Too many Canadians — especially seniors and vulnerable people — are being targeted by scams
and financial crime. The Spring Economic Update 2026 takes stronger action to protect
people, crack down on criminals, and keep Canadians' money safe:</p>
<ul>
<li>Establish the <strong>Financial Crimes Agency </strong>as a best-in-class law
enforcement agency with the personnel, resources, mandate, and legislative tools needed
to tackle sophisticated financial crimes and recover illicit proceeds.</li>
<li>Protect Canadians by cracking down on the criminal abuse of money services businesses
for money laundering, terrorist financing, sanctions evasion, and fraud through stronger
regulations, new enforcement powers, and a ban on crypto ATMs.</li>
<li>Advance the <strong>National Anti-Fraud Strategy</strong>, with a public consultation
launched in March 2026, by seeking feedback on the introduction of a multi-sector
anti-fraud framework across the financial and telecommunications sectors, and digital
platforms, alongside measures to strengthen public awareness of fraud and support
law enforcement efforts to combat fraud.</li>
<li>
<p><strong>Help keep communities safe and inclusive</strong></p>
<p>Investing in the programs and services that ensure Canadians feel safe, supported,
and able to fully participate in community life.</p>
</li>
</ul>
</div>
<p class="bigMiddle">Build in Canada. Invest in Canada. Choose Canada. Buy Canadian. Because what we
build belongs to you, your children, and your country.</p>
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