Department of Finance Canada highlighted Budget 2025 measures aimed at competition and affordability.
In telecommunications, Budget 2025 announced steps to reduce regulatory burden for deploying telecommunications infrastructure, release more spectrum, and make it easier for consumers to renew or switch internet and phone plans.
In financial services, the budget advanced a competition and modernization agenda that includes payments modernization and legislation to complete the Consumer-Driven Banking Act.
Finance Canada said the next phase of consumer-driven banking would be accelerated by 2027.
The budget also proposes to prohibit registered and investment account transfer fees, making it easier for consumers to move accounts between institutions.
Other measures include easier access to funds deposited by cheque and possible improvements to transparency for cross-border transfer fees charged by banks.
The government also plans legislation to regulate fiat-backed stablecoins in Canada, including payment-related uses.
For financial institutions and insurers, Budget 2025 proposes replacing some limits on borrowing and portfolio investments with more flexible guidance from the Office of the Superintendent of Financial Institutions.
Finance Canada also repeated its target to catalyze $500 billion in new private investment over five years.
Competition, payment-system rules, banking costs, capital access, and private investment affect household costs, business financing, and the economic base behind future fiscal choices, even when the measures do not change tax rates directly.