Liberal Leader Mark Carney promises year-long measures to help retirees cope with tariffs [Video]

Liberal Leader Mark Carney on Monday promised temporary supports to help retirees cope with U.S. tariffs that are punishing markets around the globe.

Campaigning in Victoria — where almost one in four people are seniors — Carney pledged that he would lower the minimum amount that must be withdrawn from a Registered Retirement Income Fund by 25 per cent.

“Seniors won’t have to withdraw as much of their hard-earned savings when markets are volatile, as they will continue to be until this trade war is sorted out,” Carney said.

The federal government made that same temporary move in 2008 to cope with the global financial crisis, and again in 2020 during the COVID-19 pandemic.

Carney also promised to boost the Guaranteed Income Supplement by five per cent to help low-income seniors “weather the storm.”

The Liberal Party said the measure would provide those seniors with up to $652. Both the …