Canada Child Benefit gets smallest annual increase on record this year

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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.

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

 Trudeau' 0:27 Government expanding Canada Child Benefit for children nether the property of 6: Trudeau

Government expanding Canada Child Benefit for children nether the property of 6: Trudeau – May 28, 2021

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.

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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

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