Mr. Speaker, I would like to thank the member for Beauport—Limoilou for sharing his time with me.
It is my pleasure to take part in this debate today on Bill C-19, the Canada groceries and essentials benefits act. As we all know, advanced economies around the world are facing complex economic challenges, and Canada is no different. Rising protectionism in the form of tariffs, supply chain disruptions and climate change are all posing significant challenges to the Canadian economy, and Canadians are feeling the impact in their daily lives.
In response, our new government is moving Canada's economy from reliance to resilience, but we understand that some of the biggest long-term payoffs in this transformation will take time to be felt. To ensure Canadians have the support they need right now, we have introduced a series of new measures to limit pressures on costs, including making groceries and other essentials more affordable.
The bill I am here to talk about today will help more than 12 million low- and modest-income Canadians afford day-to-day essentials. The support will be indexed to inflation and builds on the goods and services tax credit to provide $11.7 billion in additional financial assistance over six years. To help address affordability challenges, the benefit will provide a one-time top-up payment equal to a 50% increase in the annual 2025-26 value of the GST credit. This support will be paid out as early as possible this spring. It will deliver $3.1 billion in immediate assistance to individuals and families who are already getting the GST credit.
There is more. In addition, the value of the Canada groceries and essentials benefit will increase by 25% for five years starting in July 2026. This expansion will deliver another $8.6 billion in support over the 2026-27 to 2030-31 period and will ensure the benefit goes to 500,000 new individuals and families. Taken together, these measures will provide up to an additional $402 to a single individual without children, $527 to a couple and $805 to a couple with two children. At these levels, our government will be offsetting grocery cost increases beyond the overall inflation rate since the pandemic.
Let me provide a couple of examples of what this assistance would look like. A single senior with $25,000 in net income would receive a one-time top-up of $267 plus a longer-term increase of $136 for the 2026-27 benefit year, for a total increase of $402. In total, this senior would receive $950 for the 2026-27 benefit year, including the top-up. A couple with two children with $40,000 in net income would receive a one-time top-up of $533 plus an increase of $272 for the 2026-27 benefit year, for a total increase of $805. In total, they would receive $1,890 for the 2026-27 benefit year, including the top-up.
After the one-time payment is made in the spring of 2026, eligible families and individuals will receive the enriched regular payments under the Canada groceries and essentials benefit as of July 2026. The benefit payments will arrive quarterly to ensure families can use the funds to help with their day-to-day expenses. To simplify this benefit for Canadians, recipients will not need to apply for the additional payments, but will be required to file their 2024 tax return to be able to receive the top-up. Recipients will need to file their 2025 tax return to receive the increased Canada groceries and essentials benefit payments as of July 2026.
As we know, this benefit is one example of the many ways we are supporting Canadians during these unprecedented times. It will be in addition to existing benefits, such as the Canada child benefit, the Canada disability benefit and the guaranteed income supplement, which are already providing relief to millions of Canadians.
The government is committed to limiting pressure on everyday costs for Canadians. Budget 2025 outlined how we will spend less on government operations and cut waste so we can invest more in growing our economy and protecting essential programs and initiatives that make life more affordable. There are programs and initiatives like the national school food program, which we are making permanent so that it can continue providing meals for up to 400,000 children every year. We are renewing the Canada Strong pass to help families and young people travel and explore Canada for less, and we are launching automated federal benefits that will reach up to 5.5 million low-income Canadians for the 2028 tax year.
Bill C-19 also builds on measures we have introduced to lower costs for Canadians and protect essential programs like cutting taxes for 22 million middle-class Canadians, eliminating the GST for first-time homebuyers on new homes under $1 million, lowering the GST for first-time homebuyers on new homes between $1 million and $1.5 million, and cancelling the federal consumer carbon tax.
Affordability measures, especially those related to food, require immediate support for Canadians. As previously mentioned, it is estimated that 12.6 million individuals and families would benefit from the new Canada groceries and essentials benefit, representing a material support to Canadians who need it the most while the government's plan to build the strongest economy in the G7 takes effect.
The government is focused on building a stronger economy to create more career opportunities and higher wages. In parallel, we are limiting cost pressures to make life more affordable. That is how we will empower more Canadians with greater certainty, security and prosperity, now and into the future.
I urge all hon. members to pass Bill C-19 without delay, so that we can ensure Canadians get this much-needed relief as soon as possible.