Mr. Speaker, let me take this opportunity to talk about what really matters to Canadians.
Since 2015, our government has been making important investments to grow the economy, strengthen Canada's social safety net and support Canadians. We introduced the Canada child benefit, which has lifted hundreds of thousands of children out of poverty. We reinforced the security and dignity of retirement income by strengthening the CPP and increasing old-age security for seniors aged 75 and over. We made generational investments in $10-a-day child care, cutting child care costs by at least half already. We also introduced the Canada carbon rebate to maintain an incentive to reduce pollution while putting more money in the pockets of hard-working Canadians in provinces where the federal fuel charge applies. All of these investments have made life more affordable for Canadians from coast to coast to coast.
However, we know that Canadians continue to face challenges while the cost of living remains high. That is why, in budget 2024, the government invested in new measures like the national school food program, which will help an additional 400,000 children get the healthy food they need to learn and grow, and the Canada disability benefit, which will help improve the financial well-being of over 600,000 low-income persons with disabilities.
This is also why we continue to invest in the dental care plan, under which two million Canadians have already been approved to get the dental care they need from a dentist or hygienist. We do this so that every generation has a fair shot at receiving the dental care they deserve while making life cost less.
We are also helping to make life cost less through our ambitious housing plan. We have committed to building more homes faster, increasing housing affordability, growing the community housing sector and making it easier to rent or buy a home. Our government recently announced a suite of bold reforms to mortgage rules to make mortgages more affordable for Canadians and put home ownership within reach. We are also expanding eligibility for 30-year insured mortgage amortization to all first-time homebuyers and to buyers of new builds.
Canadians can count on the government to continue strengthening our social safety net while managing the nation's finances responsibly.
In fact, for the past past nine months in a row, inflation has been within the Bank of Canada's target range. Inflation fell to 1.6% in September, a 43-month low. Today, the Bank of Canada lowered the interest rate to 3.75%, which is going to help so many Canadians with their mortgage rates, credit cards and other borrowing costs.
These are powerful economic proof points. They show that Canada's economy is strong and resilient. They show that our economic plan is fiscally responsible. That is important because it means that we can afford to make investments and in turn make life more affordable for Canadians.