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Middle-class tax cut: Carney signs order to prioritize promise

  • On May 14, Prime Minister Mark Carney formally endorsed an initiative to prioritize implementing a middle-class tax reduction nationwide by July 1, 2025.
  • Carney campaigned on lowering the personal income tax rate by one per cent, and the government plans to introduce related legislation soon after Parliament returns May 26.
  • The tax cut will reduce the lowest federal tax rate from 15 to 14 per cent, benefiting roughly 22 million Canadians and saving two-income families up to $840 annually.
  • Finance Minister François-Philippe Champagne emphasized that implementing the tax cut is the government’s top priority and highlighted that this action clearly demonstrates their commitment to Canadians.
  • The minority Liberal government must secure support from opposition parties to pass the tax cut, while critics including Conservative leader Pierre Poilievre express concerns about delayed fiscal plans.
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Feds promise tax cut that could save some Canadian families up to $840 a year

The federal government announced its first order of business Wednesday (May 14) – a middle-class tax cut that was first promised during the election campaign.

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24heures.ca broke the news in on Wednesday, May 14, 2025.
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