Day one of Canada’s federal election brings bold tax cut plans from both frontrunners as affordability dominates the national conversation
Election 2025 is officially underway — and your paycheque is already the headline.
Within hours of hitting the campaign trail on Sunday, both the Liberal Party and the Conservative Party made sweeping promises aimed at cutting taxes and easing the cost-of-living burden for Canadians.
With affordability emerging as a defining issue, leaders Mark Carney and Pierre Poilievre are hoping their economic pitches will hit home with voters feeling the squeeze.
Liberals: Up to $825 in Savings for Middle-Class Families
In his campaign launch speech from Ottawa, newly minted Liberal Leader Mark Carney pledged a 1-point reduction on the lowest federal tax bracket, a move he says could save two-income families up to $825 per year.
“Hard-working Canadians deserve to keep more of their paycheques,” Carney said. “This tax cut will help people cover essentials — homes, groceries, and their families.”
The Liberals estimate that more than 22 million Canadians would benefit, with low- and middle-income earners gaining the most.
Conservatives: Deeper Cuts, Bigger Claims
Not to be outdone, Pierre Poilievre opened the Conservative campaign with a broader promise — slashing the lowest income tax rate from 15% to 12.75%.
According to the Conservatives:
- An average worker earning $57,000 would save up to $900/year
- A two-income family could save as much as $1,800/year
“Life has never been more expensive,” Poilievre said. “You’re working harder, but your money doesn’t go as far. My 15% tax cut will help families bring home more powerful paycheques.”
The Race Is On
Sunday’s announcements came just after Carney met with Governor General Mary Simon, formally dissolving Parliament and triggering a snap federal election set for April 28.
While both parties promise relief, the race ahead is expected to focus not just on who cuts taxes the most, but how those cuts will be paid for, and what services might be impacted as a result.
What’s Next?
Over the next five weeks, Canadians can expect:
- Clashing economic visions
- Voter pitches from all major parties
- Debates on affordability, housing, and healthcare
As campaign signs go up and leaders hit the road, one thing is clear: this election will be fought on your bottom line.
