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Canada Groceries & Essentials Benefit: Free Money Hits Your Account June 5 — Are You Getting Yours?

If you're a low- or modest-income Canadian, there's a very good chance the government is about to deposit money directly into your bank account — on June 5, 2026 — with zero application required. It's called the Canada Groceries and Essentials Benefit (CGEB) , and it's replacing the old GST/HST credit with a bigger, better payout. The first step? A one-time bonus payment arriving in less than two weeks. Here's everything you need to know to make sure you don't miss it. What Exactly Is This Payment? The federal government is transitioning away from the GST/HST Credit and launching the new Canada Groceries and Essentials Benefit (CGEB) starting July 2026. As a bridge to that new program, every current GST/HST credit recipient will receive a one-time lump-sum top-up on June 5, 2026 — equal to 50% of their annual 2025–26 GST/HST credit . Think of it as a bonus cheque (or direct deposit) to help you cover rising grocery and essentials costs right now, before the n...
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Wall Street Rallies Despite Fed's Tapering Plans

 


Stocks rose on Friday, extending their gains for the week, as investors shrugged off the hawkish tone of Federal Reserve Chair Jerome Powell's testimony to Congress. Powell signaled that the Fed is ready to start tapering its bond purchases as soon as November, and that interest rate hikes could follow sooner than expected. However, he also acknowledged that the economic recovery is still facing headwinds from the delta variant of the coronavirus and supply chain disruptions.

The Dow Jones Industrial Average climbed 0.7%, or 238 points, to close at 35,677. The S&P 500 gained 0.8%, or 34 points, to end at 4,544. The Nasdaq Composite advanced 0.9%, or 139 points, to finish at 15,212. All three major indexes posted weekly gains of more than 1%.

The dollar weakened against a basket of major currencies, as traders reduced their bets on a faster pace of monetary tightening. The dollar index fell 0.3% to 93.38. The yield on the 10-year Treasury note edged lower to 1.45%, after hitting a three-month high of 1.54% on Thursday.

Wall Street analysts said that Powell's comments were largely priced in by the market, and that investors are focusing on the strong earnings outlook and the prospects of more fiscal stimulus from Washington. They also noted that the Fed's tapering plans are contingent on the economic data, which could change depending on the evolution of the pandemic and inflation.

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