Minister O'Regan Highlights Budget 2023 Affordability Investments, Launches Oil to Heat Pump Affordability Program -- Delivering Affordable Heating and Clean Air

ST. JOHN'S, NL, March 31, 2023 /CNW/ - Through Budget 2023, the Government of Canada is fighting global inflation and supporting families with the cost of groceries and home heating. Today, the Honourable Seamus O'Regan, Canada's Minister of Labour, provided an update on the Oil to Heat Pump Affordability (OHPA) Program, first announced in November 2022.

To make life more affordable, Budget 2023 delivers the new Grocery Rebate, offering targeted inflation relief for 11 million Canadians and families who need it most with up to an additional $467 for eligible couples with children; an additional $234 for single Canadians without children; and an additional $225 for seniors, on average. The government is also taking action to crack down on junk fees and predatory lending, lower credit card transaction fees for small businesses, and to help Canadians keep more money in their pockets — including by reducing home heating bills.

Heat pumps are one of the best ways for families to save money on their monthly bills while delivering clean air in their communities.That's why the Government of Canada is here to help  families make the switch from expensive home heating oil to efficient electric heat pumps. Eligible homeowners across Canada can now register through the Canada Greener Homes Initiative (CGHI) to apply and access up to $10,000 in federal support for switching from home heating oil to electric heat pumps.

With the Oil to Heat Pump Affordability Program, low-to-middle-income households currently heating their homes with oil may now qualify to receive a total upfront payment of up to $10,000 toward the purchase and installation of a new, electric cold-climate heat pump. This includes up to $5,000 from the Canada Greener Homes Grant (CGHG).

Homeowners may also benefit from combining federal support with other existing local, provincial, territorial and utility programs.

Heat pumps are an important climate adaptation solution, supporting Canadians in heating their homes in cold winters and cooling them in increasingly hot summers. Delivering the OHPA Program is part of the government's commitment to making life more affordable for Canadians while building more resilient communities.

As communities across Canada make the switch to more affordable electric power for heating and transportation, Budget 2023 is supporting investments in the critical electricity infrastructure needed to meet rising demand. Through a clean electricity focus for the Canada Infrastructure Bank, targeted investments in clean generation and grid capacity, and the new Clean Electricity Investment Tax Credit, the Government of Canada is supporting the electricity sector to deliver reliable, clean and affordable energy for families.

Canada has made a remarkable recovery from the COVID recession. Canada's economic growth was the strongest in the G7 over the last year, and today, 830,000 more Canadians are employed than before the pandemic, including 11,800 in Newfoundland and Labrador. Inflation in Canada has fallen for eight months in a row, our unemployment rate is near its record low, and, supported by our Canada-wide system of affordable early learning and child care, the labour force participation rate for women aged 25 to 54 reached a record high of 85.7 percent in February.

With a responsible fiscal plan that will see Canada maintain the lowest deficit and the lowest net debt-to-GDP ratio in the G7, Budget 2023 will help to build a Canada that is more secure, more sustainable, and more affordable for people from coast to coast to coast.

Quotes

"Budget 2023 is our plan to make life more affordable, strengthen public health care, and build a stronger, more sustainable, and more secure Canadian economy — for everyone. The Oil to Heat Pump Affordability Program is an important measure to help households with low-to-median incomes to save money on their heating bills."

The Honourable Jonathan Wilkinson, Minister of Natural Resources

"Electricity is the cheaper, greener and more reliable way to heat your home. We want more people to make the switch from oil to electric heat pumps so their heating bills are lower — that's why we're helping to cover the cost."

The Honourable Seamus O'Regan, Minister of Labour

Related Products

• Budget 2023: A Made-in-Canada Plan: Strong Middle Class, Affordable Economy, Healthy Future
• Oil to Heat Pump Affordability Program
• 2030 Emissions Reduction Plan: Clean Air, Strong Economy
• Canada Greener Homes Initiative
• Making Home Heating More Affordable for Canadians While Fighting Climate Change
• Explore other financial incentives to make changes in your home
• Canada Greener Homes Loan (nrcan.gc.ca)

SOURCE Natural Resources Canada

Media may contact: Natural Resources Canada, Media Relations, 343-292-6100, [email protected]; Keean Nembhard, Press Secretary, Office of the Minister of Natural Resources, 613-323-7892, [email protected]