Conservative Leader Pierre Poilievre has outlined his economic strategy for Canada, emphasizing tax cuts and reduced government spending to stimulate economic growth. Poilievre projects his plan will generate an additional half a trillion dollars in economic activity over five years.
A key component of Poilievre's plan is a proposed $14 billion annual income tax cut. This would result in savings of approximately $900 per year for the average worker, and up to $1,800 annually for dual-income families. He intends to implement the tax cut by fiscal year 2027-28, estimating the plan's cost at $7 billion in each of the first two years, and $14 billion annually thereafter.
Poilievre plans to offset these costs through cuts to government bureaucracy, consultants, foreign aid, and by implementing a "dollar-for-dollar law" requiring ministers to find savings for every new dollar spent. He also introduced the “Canada First Reinvestment Tax Cut”, effective from July 1, 2025, to December 31, 2026, to incentivize investment in Canada.