One year ago, Mark Carney became Canada’s 24th Prime Minister, and in the twelve months since, our new government has acted swiftly and decisively to deliver real, measurable results for Canadians. At a time of global uncertainty and rapid change, Canada has responded with confidence, clear focus, and leadership. We have expanded our trading partners, worked to create one Canadian Economy and delivered real results for all Canadians.
From day one, affordability has been a top priority. One of our government’s first pieces of legislation was to deliver tax cuts for 22 million Canadians, ensuring families keep more of what they earn. We also introduced the new Canada Groceries and Essentials Benefit, to provide meaningful support as households manage rising costs. In total, more than 12 million Canadians will benefit. At the same time, through Build Canada Homes and the Major Projects Office we are making historic investments in affordable housing and infrastructure and taking bold action to tackle the housing crisis and expand economic opportunity in communities across the country.
Our first Budget delivered last November reflects responsible fiscal leadership, reducing spending on government operations while increasing investments in people, productivity, and long-term economic growth. Budget 2025 delivers historic investments in affordable housing, critical infrastructure, and national defence, while strengthening our workforce through innovation and research, positioning our country for sustained success in the decades ahead.
In an increasingly unstable world, our government is also focused on strengthening Canada’s security and sovereignty. This past year we have begun rebuilding, rearming, and reinvesting in the Canadian Armed Forces, with Canada on track to meet its 2 percent NATO spending target. Applications to join the CAF over the past year have risen by nearly 13 percent, demonstrating renewed confidence and commitment. We also launched Canada’s first ever Defence Industrial Strategy, a transformative plan that will prioritize Canadian suppliers and materials, accelerate innovation, and streamline procurement.
In just one year, Prime Minister Careny is working to address affordability head-on, grow our economy, reinforce our national security, and laying the foundation for a more prosperous future. The progress is clear, the direction is strong, and we are only getting started.