A Thorn for a Crown of Glory

“Gray hair is a crown of glory” says the Proverb — yet a startling new report form Bloom Finance reveals that many of Canada’s seniors are finding that crown has turned into a crown of thorns. The shocking numbers revealed that over half, 55% of Canadians say increased costs are overtaking their savings. Seniors who planned, saved and prepared for their golden years are now facing a world of inflation and economic uncertainty.

I’ve previously discussed the affordability crisis gripping Canada — from skyrocketing housing costs, rising food prices to ever-increasing taxes. Between March 2025 to August 2025, alone, certain monitored staples and food basics, inflated almost 40%. Pork shoulder cuts jumped 37%, beef top sirloin cuts rose 28%, basic white sugar climbed 19% and even strawberries saw an increase by 18%.

Going to the grocery store has become an excursion in the art of selection. With every trip to the supermarket, Canadians are being forced to determine which basic foods are most essential. Many now find themselves debating whether to buy apples or bacon — both which have risen by 13% in just the past five months — and deciding which to cross off the week’s grocery list.

During that same period, 11% more seniors than last year reported that increased costs are requiring them to financially support their families, limiting their retirement savings. In total, 76% of our elders feel constrained by the growing expenses of helping to support their families. So much so, that 36% have indicated that they are ready or likely to take on part-time work during retirement just to keep up with living expenses.

Among the seniors providing financial support, 67% are helping with everyday living expenses — up 12% from last year — while 28% are assisting with the rent or mortgage payments for family members, slightly higher than the 26% recorded the year before. To cope with the challenges, 61% of seniors plan to adjust their lifestyle to address any potential shortfalls while 19% are uncertain how to manage the financial strain.

Inflation is impacting all Canadians—but is especially impacting Canadian seniors.  They should be enjoying the rewards of a lifetime of hard work, yet instead they’re watching their life savings erode. The financial discipline that was meant to buy them unrushed mornings lingering over coffee and the morning news has often turned into the burden of indefinitely supporting their adult children and families.

Conservatives are speaking up because this is not the Canadian promise. This is because of bad policy that can be reversed. The latest date from StatsCan reveals that costs have continued to increase even since Mr. Carney became prime minister. It doesn’t have to be that way.

 That’s why, Conservatives have proposed a concrete plan to scrap taxes on food to help our seniors and all Canadians. Conservatives are proposing we axe…

 ·       The industrial carbon tax on fertilizer and farm equipment.

·       The fuel standard tax on diesel and gasoline.

·       The inflation tax from increasing money-printing deficits; and

·       The food packaging tax o plastics and packaging.

Its time we reverse direction and forge a new pathway forward. Rather than forcing our seniors to struggle through the patches of entangled thorns, let’s set our seniors up for success — restoring their crowns for glory, empowering their families with self-provision and their future with new adventures.