Prime Minister Trudeau highlights changes to the Canada Child Benefit
Hello everyone and thank you for joining us today. It’s great to be back in Brampton to share some exciting news. Since the beginning of our mandate, we’ve made investing in people our top priority. We know that our country is only as strong as its middle class, and truth be told, middle class families need our help. Let’s face it, raising kids is expensive, really expensive. So we set out to do more for those who work hard every day to make this country an even better place to call home, and an even better place for their kids’ future.
During the campaign, we put forward an ambitious plan to put more money in the pockets of families, to help them save, invest and grow our economy. To help parents with the high costs of having children, we introduced the new Canada Child Benefit. Thanks to the new and enhanced non-taxable benefit cheques, families have more money for summer camps, winter coats and school supplies.
Thanks to the money we give them every month, tax free, they have more money in their pockets for school supplies, back to school clothes, after school activities for their kids, and the kinds of things that we know are going to be needed with winter coming, and winter coats and hats. More money to assure a better quality of life for parents and to guarantee a better future for our kids.
And today, we’re happy to say that our plan is working even better than expected. The Canadian economy is growing faster than it has in a decade, which makes Canada the fastest-growing economy in the G7. The latest numbers show that a strong economy does indeed start with a strong middle class. With more money in their pockets because of the CCB, parents have the means to contribute more to our country’s growth. That’s why the government announced last week that it would invest the benefits of growth back into those who added so much to our success: hardworking families.
Starting in July 2018, next summer, the CCB will be indexed to inflation so that that Canada Child Benefit cheque parents receive monthly will keep pace with the rising costs of living. That means parents will receive a monthly tax-free cheque that is even more generous than the current one. In practice, for example, that means a single mom with two kids who makes $35,000 a year, will receive an additional $560.00 to help her put food on the table in the benefit year 2019-2020. That’s what real change looks like in action.
A strengthened Canada Child Benefit will continue to provide immediate help to those who need it most, while ensuring that every Canadian has a real and fair shot at success for generations to come.