NDP Leader Jagmeet Singh has unveiled a major economic proposal aimed at helping Canadians navigate the growing financial impact of U.S. President Donald Trump’s escalating tariff war. Singh announced that, if elected, an NDP government would introduce Canada Victory Bonds—secure, tax-free savings instruments designed to allow Canadians to support the country while earning attractive returns.
According to the party’s plan, these bonds would be available in 5-year and 10-year terms with a compounding interest rate of 3.5%, which is 0.25% higher than the average 5-year bank GIC. Held to maturity, a $100 bond would grow to $118.77 in five years and $141.06 in ten years. The bonds would be easily accessible through payroll deduction or over-the-counter purchase. Every dollar raised will go directly towards public infrastructure projects such as transit, roads, ports, housing, water systems, and bridges.
In addition, Singh announced a “Build Canadian, Buy Canadian” infrastructure strategy. Under this plan, 100% Canadian steel would be used in all federally-funded projects, and Canadian unionized companies would be prioritized in public procurement processes.
Singh also addressed social support, pledging to expand Employment Insurance (EI) benefits to 50 weeks and increase the benefit rate to 66% for eligible Canadians.
These measures, Singh said, are meant to both strengthen Canada’s economic independence and support local industries and workers during a turbulent global trade climate.
