Mr. Speaker, the government's priority is reducing pressures on costs and creating new opportunities for Canadians. I would note to my colleague that, as mentioned in the previous response, Canada right now is set to have the second-fastest growth in the G7. Foreign direct investment into the Canadian economy is at an 18-year high. These are proof points that the serious economic plan that we have put forward for Canadians is working. It is under way, and it is taking effect. This includes supporting Canadians with the cost of groceries and everyday essentials, which have stretched many Canadians' wallets.
This past January, the Prime Minister announced the new Canada groceries and essentials benefit, which will become available this spring. This benefit will help more than 12 million low- and modest-income Canadians to afford day-to-day essentials. It builds on the existing GST credit but will be more generous.
First, we will be providing a one-time payment equivalent to a 50% increase in the value of the GST credit this spring, and then we will increase the benefit by 25% for five years, starting this July. The difference will be considerable for Canadians struggling with putting food on the table. Before this new benefit, a person living alone who is eligible for the GST credit would have received a maximum of $543. That same person now will get approximately $950 in total this year from the 50% one-time payment and the 25% increase thereafter, thanks to the changes that we have announced. For a couple with two children, the amount will increase from approximately $1,086 annually to $1,890. These amounts will increase each year in line with the rising cost of living.
We are not stopping there. Last September, we launched a new strategic response fund to help sectors impacted by tariffs. We are committing up to $500 million from this fund to help businesses address the costs of supply chain disruptions without passing those costs on to Canadians at the checkout line. We will provide another $150 million under the regional tariff response initiative, specifically to help the small and medium-sized businesses that my colleague opposite was speaking about in the food sector, and we will allow growers to fully write off the cost of new greenhouses immediately to free up the capital they need to expand production. This will ultimately help lower food prices for Canadians.
At a time when global supply chain disruptions are driving up prices, the government is lending Canadians a hand. I appreciate many of my colleague's examples, but I would also point him to the fact that in his home province of Saskatchewan, parents are now paying $10-a-day child care, saving close to $7,000 per child per year through early learning and child care. Saskatchewan has received close to $60 million in federal funding to expand access to school food programs, helping more kids in more schools access nutritious meals, saving families up to $800 a year. In 2025, we have committed close to $20 million through the national housing strategy to support housing initiatives in Saskatchewan. These are measures that go hand in hand with making life more affordable for Canadians right across the country and with growing our economy.