Conservative Leader Pierre Poilievre announced his party will propose amendments to the Liberal government’s income tax cuts, and a GST break for homebuyers.

On Tuesday, Finance Minister François-Philippe Champagne announced billions in promised tax cuts through a Ways And Means Motion, a prerequisite for tax changes. 

Proposed Income Tax Act amendments would reduce the tax rate on the first $57,375 of taxable income to 14% by 2026. The motion also proposes eliminating the GST on new homes priced under $1 million for first-time buyers.

Poilievre told reporters that the Liberal plan does not go far enough.

The Liberals' throne speech, delivered by King Charles III, had no plan to address the government's "morbidly obese" spending, says Conservative Leader Pierre Poilievre.

Pipelines, removing anti-energy laws, justice reform — "all of these” were left out, he adds. pic.twitter.com/45FgQjd81f

— Rebel News (@RebelNewsOnline) May 27, 2025

The Tory leader advocates for a larger 2.25% income tax cut, deeming the current 1% reduction, which he equates to the cost of a weekly Starbucks, inadequate.

During the election, Poilievre promised to remove the GST on housing up to $1.3 million to help families afford new homes. He also stated the government would fund modular and pre-fabricated housing and support training for more construction workers.

The Liberal pledge comes with a $383 million price tag, with the Conservative policy expected to be more.

Banker says Liberal tax cut provides $32 in savings per person

TD Bank anticipates 100,000 Canadian job losses by the end of the third quarter, excluding the 75,000 jobs lost during the U.S. trade war.https://t.co/0FEYNHa8iq

— Rebel News (@RebelNewsOnline) May 28, 2025

Poilievre claimed the Opposition is “here to turn the government's talking points into real plans.” He also vowed to support government initiatives that benefited Canadians.

“The question we always ask is, ‘Is the proposal better than the status quo?’ If it is, then we support it. If it’s not, then we oppose it.”

The olive branch follows accusations that the Liberals plagiarized aspects of the Conservative election platform.

“We will offer even better ideas in the future. And as I said a few weeks ago, I’m encouraging the Liberals to steal my ideas, because we have the best ideas,” the Tory leader said.

In his absence from the Commons, Poilievre notes the Conservatives will propose further amendments to cut “bureaucracy, consultants, corporate welfare, and foreign aid.” Prime Minister Mark Carney plans to pay for the tax break by “driving efficiency in government.”

Government spending is projected to reach $486.9 billion this fiscal year, an 8.4% increase over last year, according to the government's main estimates detailing taxpayer dollar allocation.

Poilievre warned that unchecked deficit spending could worsen Canadian inflation. The federal budget delay until fall raises concerns about increased spending.

Carney stated the middle-class income tax cut would benefit all Canadian workers, saving a two-income family up to $825 annually.

TD Bank chief economist Beata Caranci estimates the annual cost of the tax cut at $5.6 billion, with average earners saving only $32.

Caranci suggests targeted spending incentives (climate renovation tax credits, GST holiday) instead of a broad tax cut, noting previous tax relief was considered a minor benefit.

Food Professor Dr. Sylvain Charlebois stated that the average Canadian household would only save $4.51 in GST between December 15, 2024, and February 15, suggesting greater savings by ordering takeout instead of cooking at home.

Then-finance minister Chrystia Freeland went on to resign from the portfolio, in part to the “costly political gimmick.” Cabinet estimated the cost to taxpayers at $1.6 billion, Blacklock’s learned. 

The federal deficit reached $61.9 billion last year, 55% over target, and this year's projection is still pending. 

Parliament has not balanced a budget since 2007, and the federal debt ceiling has been raised by a trillion dollars in the last four years.

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