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5 Things to Know Today: New Grocery Benefit, Bigger OAS Cheques and a Trade Deadline

  July 1, 2026 — Your quick morning briefing on what's moving Canadian wallets today. Happy Canada Day! Between a brand-new grocery benefit, bigger government cheques, and a high-stakes trade meeting in Ottawa, there's a lot happening behind the fireworks. Here are the five things every Canadian should know today. 1. The Canada Groceries and Essentials Benefit officially launches Starting July 3, the new Canada Groceries and Essentials Benefit (CGEB) replaces the GST/HST credit, delivering quarterly payments that are 25% higher than before. The boost is meant to run for five years and will land alongside the July, October, January, and April payment cycle. You don't need to apply — eligibility is calculated automatically from your 2025 tax return, so filing on time matters more than ever this year. 2. OAS gets its biggest quarterly bump of 2026 Old Age Security payments rise 1.2% for the July-to-September quarter — the largest cost-of-living adjustment seniors have seen so ...
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Trudeau's Zoom Call Sparks Cabinet Shake-Up: Freeland Out, Carney In

In a surprising turn of events, Prime Minister Justin Trudeau informed Finance Minister Chrystia Freeland over a Zoom call that she would be replaced by Mark Carney. This unexpected move has sent shockwaves through the political landscape, raising questions about the future direction of Canada's economic policies.

Freeland, who has been a key figure in Trudeau's cabinet, reportedly received the news during a virtual meeting, highlighting the modern approach to significant political decisions. The decision to replace Freeland with Carney, a former Governor of the Bank of Canada and the Bank of England, suggests a shift towards a more technocratic approach to managing the country's finances.

The announcement has sparked a flurry of reactions from political analysts and the public alike. Many are speculating about the reasons behind this sudden change and what it means for the Liberal government's economic strategy moving forward. Freeland's departure marks the end of an era, and Carney's appointment signals a new chapter in Canada's financial leadership.

As the dust settles, all eyes will be on Carney as he steps into his new role, tasked with navigating the country through its economic challenges and opportunities. The political landscape in Ottawa is sure to be closely watched in the coming days as further details emerge about this significant cabinet reshuffle.

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