Madam Speaker, I thank the member for Elgin—St. Thomas—London South for speaking not only on behalf of his constituents but for all Canadians who are facing an affordability crisis. We are all seized with meeting Canadians where they are through this affordability crisis, while working on building the country up.
Canadians are facing heightened affordability pressures from sources beyond our control, so it is more important that we find opportunities for improvement within our control. We know that Canadians are feeling the pressures of everyday expenses right now, especially when it comes to the cost of fuel. As a northerner, I know how much everything depends on the price of fuel.
Canadians and consumers around the world are facing higher prices at the pump, creating uncertainty and pressure on household finances. That is why, on April 14, the Prime Minister announced a temporary suspension of the federal fuel excise tax on gasoline, diesel and aviation fuels across Canada. This suspension started April 20 and will remain in effect right up until Labour Day. This is expected to reduce Canadians' bills at the pump by up to 10¢ per litre on gasoline. Combined with our elimination of the consumer carbon tax, that amounts to 28¢ per litre. That is real and tangible, and it is in addition to the other measures we put in place to support Canadians.
We introduced the Canada groceries and essentials benefit to make everyday essentials such groceries more affordable. This measure builds on the GST credit and will provide additional support for more than 12 million Canadians. It will start with a one-time top-up this Friday, in just four days. Combined with a 25% increase in the benefit for five years as of next month, a family of four will receive up to $1,890 this year, and a single person will receive up to $950 in 2026.
We also know that a big part of taking things into our own hands is making life more affordable for Canadians. That is why Bill C-30 is proposing to extend the grace period, during which homeowners are not required to start repaying their homebuyers plan withdrawals from their RRSP, from two years to five years for participants making a first withdrawal between January 1, 2026 and December 31, 2028.
The homebuyers plan helps eligible homebuyers save for a down payment by allowing them to withdraw up to $60,000 from an RRSP to purchase or build their first home or a home for a specified disabled person without having to pay tax on the withdrawal. This extended grace period already applies to withdrawals made between 2022 and 2025, and it provides relief of up to $4,000 per individual per year for the three years over which they are not required to repay the amount into their RRSP.
Everyone deserves a roof over their head. That is why our government is taking action to put housing and home ownership within reach of Canadians. That is in addition to all the other measures. Just the other week, in the Yukon, I was able to put some of this commitment into action with an announcement with the Minister of Housing and Infrastructure of $100 million toward housing, $82 million into infrastructure and $75 million into health infrastructure. This is about building north and building Canada strong.