OTTAWA — Ottawa plans to make it easier for Canadians to move their banking and investment accounts in a bid to increase competition and reduce costs for consumers.

The government said as part of Tuesday’s federal budget it will move to eliminate investment and registered account transfer fees, which it said cost Canadians on average $150 per account.

Read more: • Federal budget forecasts $78B deficit as Liberals shift spending to capital projects • Budget 2025: Key numbers from the Liberals’ latest spending plan • Liberal budget earmarks billions for ‘bold and swift action’ to meet U.S. disruption

It also said it intends to work with banks on ways to simplify the process of switching primary chequing accounts to other Canadian financial institutions.

“We will introduce measures

See Full Page