In its November budget, the federal government promises households “a boost today and a bridge to tomorrow.” But above all, the budget is a bet on business investment.

Its centrepiece is the Productivity Mega Deduction, a tax incentive that allows businesses to write off the full cost of eligible capital investments. It’s expected to cost $36 billion over five years.

By my calculations, only about 22 cents of every new dollar goes to affordability measures. These include not only direct household assistance but also housing, skills and immigration.

As a tax policy researcher at McGill University, I read budgets for how policy choices show up in everyday economic life. Looking beyond the headline announcements reveals who benefits, how much they receive and when that assistance arrives.

The highlights for households

For many households, the biggest immediate effect is the continuation of existing support, including rent subsidies for low-income tenants, provincial funding for home care and mental health and food bank support.

Four changes stand out. The Canada Groceries and Essentials Benefit — formerly the GST credit — will provide another one-time top-up in early 2027, worth up to $339 for individuals and $679 for couples with two children, paid in full to most households earning under about $46,000.

The new Build Canada Workers Benefit pays the lowest earners up to $675 more and reaches workers earning under $40,000 (about $52,000 for families), but from 2028 they will receive it only after filing their tax return.

The federal caregiver credit becomes refundable from 2027, meaning it’s paid even to people who owe no tax. About 180,000 low-income........

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