Source: The Patriot Light | AWK Network | VIEW ORIGINAL POST ==>
The federal government is hoping a temporary break on GST will address a ‘vibecession’ that has gripped Canadians, Finance Minister Chrystia Freeland said Monday.
Prime Minister Justin Trudeau announced on Thursday that starting Dec. 14 the goods and services tax will be taken off a slew of items for two months to help with the affordability crunch.
In a news conference on Monday, Freeland said there’s a disconnect between recent good news on inflation and interest rates and how Canadians are feeling about the economy, something she said is being referred to as a “vibecession.”
The finance minister said the tax cut is meant to help bridge that gap and stimulate consumer spending.
“One of the positive impacts of this measure is to help Canadians get past that vibecession because how Canadians feel really does have a real economic impact,” Freeland said.
The federal government also plans to send $250 cheques in the spring to Canadians who were working in 2023 and earned up to $150,000.
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