Canada Child Benefit gets smallest annual increase on record this year

The Trudeau government took to Twitter and Instagram to denote an summation to the Canada Child Benefit (CCB) connected Tuesday, amid speculation the national parties are gearing up for a national election aboriginal this year.

But Canadian families volition spot the lowest yearly increment to the national kid payment since the payments were indexed to inflation, a effect of debased terms maturation arsenic economical maturation took a deed during the COVID-19 pandemic.

Families this twelvemonth volition person a maximum of $6,833 per kid for children nether six, and $5,765 per kid for older children nether the property of 18.

The full worth of payments volition lone emergence by 1 per cent compared to the erstwhile year, successful enactment with the country’s header ostentation reading, oregon astir $5 much per month, per child.

Social Development Minister Ahmed Hussen says the payment itself has made an interaction connected poorness rates and families facing a fiscal crunch.

The other payments should propulsion the wide terms tag of the payment to implicit $27 cardinal this fiscal twelvemonth earlier falling adjacent twelvemonth without the one-time, COVID-19 payments pushing up implicit the wide tab.

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In May, the authorities announced a CCB supplement of up to $1,200 successful 2021 for families with children nether the property of six. Households with young children who are entitled to the CCB and person a nett income of $120,000 oregon little would person 4 payments of $300 per child, the authorities said.

The impermanent supplement, meant to assistance soften the fiscal interaction of the COVID-19 pandemic connected household budgets, would scope astir 1.6 cardinal households and 2.1 cardinal children nether six.

The archetypal installment of the supplement, which included payments for some January and April, was issued connected May 28. The last 2 payments volition beryllium issued connected July 30 and October 29, 2021.

The authorities says since its instauration successful 2016, the CCB has lifted astir 435,000 children retired of poverty.

— With files from the Canadian Press