Thursday April 3, 2025 | OTTAWA, ON [Reporting from VICTORIA, BC]
Posted by Island Social Trends
NDP Leader Jagmeet Singh today in Ottawa unveiled Canada Victory Bonds and a suite of commitments to protect Canadian workers, rebuild critical infrastructure, and ensure working and middle-class families don’t bear the cost of Donald Trump’s reckless trade war.
Overall today’s news conference was headed up “Investing in Canada”.
“Trump’s tariffs are a direct attack on Canadian jobs and workers,” said Singh. “Every day, more families are worrying about their paycheques, their future, and how they’ll get by. We’ll fight back—by building Canadian, buying Canadian, and investing in the people who power this country.”
Canada Victory Bonds: A Nation-Building Investment
Singh announced the launch of Canada Victory Bonds—secure, tax-free savings bonds designed to put everyday Canadians in the driver’s seat of rebuilding the economy and resisting Trump’s attacks.
- Available in 5-year and 10-year terms, these bonds will pay a compounding interest rate of 3.5%—set 0.25% above the average 5-year bank GIC.
- Tax-free if held to maturity, a $100 bond will grow to $118.77 in five years, or $141.06 in ten.
- Bonds will be available via payroll deduction or over the counter, making it easy for Canadians to participate.
- Every dollar raised will be dedicated entirely to public infrastructure—not general revenue—supporting shovel-ready projects like roads, bridges, transit, ports, housing, and water systems that we will own for generations.
“Canadians are already taking a stand—buying local, cancelling U.S. trips, and calling out Trump’s bullying,” said Singh. “With Victory Bonds, we’re giving them another way to act—to invest directly in the fight for our economy and our future.”
Investing in Canadian Steelworkers:
Today’s announcement powers the NDP Build Canadian, Buy Canadian plan—a national public infrastructure and procurement strategy to:
- Use 100% Canadian steel in all federally funded projects.
- Ban U.S. companies from federal procurement contracts as long as they are targeting Canadian goods with tariffs.
- Prioritize Canadian unionized firms in public project bidding.
- Increase Canadian content requirements for all federally funded projects.
“We’re going to use Canadian steel and lumber to build Canadian homes, hospitals, bridges, and clean energy,” said Singh. “Not only will this support Canadian jobs—it will protect entire communities that depend on these industries, from Hamilton to Sault Ste. Marie to Kitimat.”
Protecting Workers and Families:
To shield Canadian workers and middle-class families from the worst effects of Trump’s trade war, the NDP is committing to:
- Expand EI benefits to 50 weeks, raise the benefit rate to 66%, eliminate the waiting period, and extend access to self-employed and gig workers.
- Fix and expand EI work-sharing to avoid layoffs and keep workers connected to their jobs.
- Use all revenue from retaliatory tariffs to directly support impacted industries like steel, auto, and aluminum.
- Remove GST from essentials like home heating and Canadian-made vehicles.
- Cap grocery prices on staples like milk, bread, and vegetables.
A Plan for National Strength and Economic Sovereignty:
“While Mark Carney wants the richest bankers to profit from this crisis, New Democrats are standing with workers, families, and communities,” said Singh. “This is about more than budgets. It’s about values. It’s about who pays—and who benefits.”
“With Canada Victory Bonds and a plan to build Canadian, we’re saying clearly: we’ll meet Trump’s trade war with Canadian pride, Canadian steel, and Canadian jobs. We’ll get through this by standing together—and we’ll come out stronger, fairer, and more united than ever.”
===== RELATED:
- Victoria NDP incumbent Laurel Collins on the 2025 re-election campaign trail (April 2, 2025)
- Second federal campaign visit by NDP Leader on south Vancouver Island (March 31, 2025)
- NDP proposes CMHC-issued homebuyer loans among suite of new economic directions (March 30, 2025)
- Jagmeet Singh launches NDP campaign in Ottawa (March 23, 2025)
- Carney announces that 45th federal election is underway (March 23, 2025)
- Fielding federal candidates in 343 ridings across the country (March 22, 2025)
- 45th federal election to be held on April 28 (March 22, 2025)
- Jagmeet Singh launches south Vancouver Island NDP campaign office (March 13, 2025)
- NEWS SECTIONS: CANADIAN FEDERAL ELECTION 2025 | CANADA-NATIONAL | CANADA-USA | COUNCIL OF THE FEDERATION