The Trudeau government adopted Twitter and Instagram to announce an increase in Canada’s Child Allowance (CCB) on Tuesday, amid speculation that federal parties are preparing for a national election later this year.
But Canadian families will see the lowest annual increase in the federal child benefit since payments were indexed to inflation, as a result of low price growth as economic growth took a hit during the COVID-19 pandemic. .
How much could Canadian parents save per year from the national child care plan?
This year, families will receive a maximum of $ 6,833 per child for children under the age of six and $ 5,765 per child for children over 18 years of age.
The total value of payments will only increase by one percent compared to the previous year, in line with the country’s headline inflation reading, or about $ 5 more per month, per child.
Social Development Minister Ahmed Hussen says the benefit itself has had an impact on poverty rates and families facing a financial crisis.
Government increases Canada’s child allowance for children under 6: Trudeau
The additional payments should push the overall benefit price to more than $ 27 billion this fiscal year before falling next year with no one-time payments from COVID-19 increasing the overall bill.
Ark Two, Canada’s largest private bunker, has lost its Noah
Canada’s Fourth Wave of COVID-19 Will Be Among Unvaccinated, Fewer Restricted – Experts
In May, the government announced a CCB supplement of up to $ 1,200 in 2021 for families with children under the age of six. Households with young children who are eligible for the CCB and have a net income of $ 120,000 or less would receive four payments of $ 300 per child, the government said.
Trudeau and NS government announce $ 10-a-day childcare for province by 2026
The temporary supplement, intended to help soften the financial impact of the COVID-19 pandemic on family budgets, would reach around 1.6 million households and 2.1 million children under the age of six.
The first installment of the supplement, which included payments for both January and April, was issued on May 28. The last two payments will be issued on July 30 and October 29, 2021.
The government says that since its introduction in 2016, the CCB has lifted some 435,000 children out of poverty.
– With archives of the Canadian press
© 2021 Global News, a division of Corus Entertainment Inc.