Carney announces GST rebate boost to counter high cost of groceries

By Kyle Duggan and Craig Lord Prime Minister Mark Carney on Monday announced a 25 per cent hike to the GST credit to help lower-income consumers deal with the high cost of groceries. Branded as the “Canada Groceries and Essentials Benefit,” the temporary boost takes effect this July and lasts for five years. The federal government will also issue a one-time payment this year worth 50 per cent of the credit. The government said a qualifying family of four will receive up to $1,890 this year and roughly $1,400 annually for the next four years. A single person would get up to $950 this year and about $700 for the next four years. The existing GST credit is paid out quarterly and is targeted at families with low and modest…

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