A statement was issued by the office of Prime Minister Justin Trudeau stating that across Canada, families are struggling with rising living costs.

Therefore, the Government of Canada is providing targeted support to those who need it most, and the government will continue to provide the much-needed relief to the middle class and those working hard to join it.

The Prime Minister, Justin Trudeau, highlighted yesterday many federal initiatives that will help make life affordable for Canadians today.

As of today, Saturday: the federal minimum wage rises from $15.55 to $16.65 per hour to keep pace with inflation.

Also, Canadian student loans and starter loans in Canada, including those currently being repaid, will become permanently interest-free.

The statement clarified that financial institutions may be able to start offering the first home savings account exempt from taxes, to help Canadians save up to $40,000 tax-free for their first home.

It is also possible to increase quarterly climate action incentive payments for people in provinces where the federal pollution price currently applies.

Also, eligible low- and middle-income homeowners can get up to $10,000 for a new energy-efficient heat pump.

The statement explained that these newly available support measures and actions are part of a broad range of investments and other initiatives from the federal government to return more money to Canadians' pockets.

These include doubling the goods and services tax credit for six months, providing dental care for over 250,000 children, and offering a one-time tax-free payment of $500 for low-income renters.