Conservative Leader Pierre Poilievre has unveiled a bold new proposal that could benefit millions of Canadians while giving a patriotic boost to the national economy. In a campaign announcement on Thursday, Poilievre revealed that, if elected, his government would allow an additional $5,000 in annual Tax-Free Savings Account (TFSA) contributions—but only if the extra funds are directed toward Canadian companies. This move would effectively raise the TFSA limit to $12,000 for those choosing to invest domestically.
Poilievre framed the plan as a way to empower Canadians and strengthen the nation’s economic sovereignty. “It will help us become more self-reliant and sovereign as we stand on our own two feet and stand up to the Americans,” he stated in a social media video. The Canada-first initiative aims to keep investment dollars at home, stimulate local businesses, and create a stronger foundation for economic growth.
The TFSA, originally introduced by former Conservative Prime Minister Stephen Harper, has become a cornerstone of Canadian personal finance. With nearly 18 million account holders, it is widely used across income levels. Recent data from the Canada Revenue Agency shows that more than 9.8 million Canadians contributed to their TFSA last year, and 1.5 million of them reached the maximum contribution. The current annual limit is $7,000, making Poilievre’s proposed increase a significant step toward long-term wealth creation.
Critics in the past have argued that raising TFSA limits disproportionately benefits the wealthy, but usage statistics challenge that notion. The average TFSA balance remains under $45,000—well below the total allowable contribution room of $102,000—suggesting that everyday Canadians are making use of the program to save and invest for their future. Moreover, with the decline in employer-sponsored pensions, more Canadians are turning to tools like the TFSA to secure retirement income.
Poilievre’s proposal has been branded as the “Canada First TFSA,” and he says it’s about more than just tax breaks—it’s about supporting patriotic Canadians who believe in the potential of homegrown innovation and enterprise. “Instead of rewarding people for taking jobs and money out of Canada, as Carney and the Liberals did, we need a massive ‘bring-it-home tax cut,’” Poilievre said. “This is about unleashing our economy so we can stand up to Trump from a position of strength.”
If implemented, the plan could mark a new chapter in Canadian investment culture, encouraging citizens to take a more active role in shaping the future of the national economy—while also enjoying greater returns through a beloved, tax-free savings tool.