Budget 2026 investments highlighted in Thunder Bay

Budget 2026 investments were highlighted in Thunder Bay, Ontario, on November 12, 2026, as Peter Fragiskatos visited Centennial Family Foods to outline the federal government’s economic and affordability measures. The announcement covered proposed support for business investment, electricity infrastructure, housing, food costs and community facilities.

Business investment and economic growth

In an IRCC Newsroom release, Fragiskatos, Parliamentary Secretary to the Minister of Immigration, Refugees and Citizenship, highlighted Budget 2026 measures intended to help businesses invest and grow.

The budget introduces competitiveness measures for businesses, startups and innovators, including the Canada Growth Incentive. It also proposes the Productivity Mega Deduction and the Canada Strong Fund.

The government said Budget 2026 remains on track to balance day-to-day operating spending with revenues by 2027–2028, a full year ahead of schedule, while keeping the deficit-to-GDP ratio on a declining path.

Energy, housing and affordability measures

The announcement cited funding for a Canada Electricity Strategy aimed at doubling grid capacity by 2050, alongside electrification, grid modernization and clean-power expansion. It also referenced investments in nuclear energy and critical minerals.

Budget 2026 includes a plan to end homelessness within 10 years in coordination with municipalities, provinces and territories. The government also said it would support one million energy-efficient home retrofits and help Canadians obtain a better deal on their mortgages.

For household costs, the release points to a 2027 Supplement to the Canada Groceries and Essentials Benefit, an expansion of Nutrition North Canada and a fully refundable Canada Caregiver Credit.

Culture, recreation and Indigenous investments

The budget also includes support for arts, culture, heritage and journalism through a Canada 160 Fund and a renewed Canada Strong Pass. Admission to national museums would be permanently free for children and youth under 25.

The government said it would provide $1.5 billion to expand, retrofit and rehabilitate ice rinks and recreational facilities across Canada. The release also cited more than $50 billion in investments to advance reconciliation with Indigenous Peoples.

Economic indicators cited by the government

The release cited several economic indicators in support of the budget, including 3.3% growth in Canada’s economy in the second quarter and $98 billion in foreign investment in 2025.

It also said private employment rose by 214,000 jobs over the past year, while the unemployment rate fell to 6.5%.

Source: IRCC Newsroom