Prime Minister Trudeau highlights changes to the Canada Child Benefit in Markham, Ontario
It’s a real pleasure for me to be here at the Aaniin Community Centre here in Markham. I know that this centre had its grand opening just last week and I can tell that it’s already become a great community hub.
This summer I spent a lot of time talking to folks across the country. I can tell you what people always ask me about is how we’re making life better for families, because here in Markham and wherever you go in Canada parents are working hard to provide for their kids. They wake up early, stay late, and sometimes even work more than one job. The cost of living is going up and wages aren’t always keeping pace. So we’re doing something about it. Two years ago we introduced the Canada Child Benefit, a system that reflects the realities parents are facing. It didn’t seem right to us that under the old system millionaires were getting cheques that, quite frankly they didn’t need, while other families were struggling to get by.
That’s why we introduced the Canada Child Benefit, which has lifted some 300 000 children out of poverty. The new Benefit is putting more money into the pockets of 9 out of 10 families.
For families receiving the CCB in the first year of the benefit, that meant nearly $2300 a year, almost $200 more a month... more than under the previous system. And today I’m proud that we’re taking another step to make sure that the benefits families receive reflect the reality of raising kids. We’re indexing CCB to inflation two years ahead of schedule.
You see, our economy is growing stronger and stronger, which means that we can make the Canada Child Benefit more generous right now. In other words, families will get more money each and every month. So when the price of everyday essentials like groceries goes up, so will the monthly cheque, because raising kids is expensive and I’ve seen how important the CCB is to families right across this country. Parents tell me they’re using to put healthy food on the table, to pay for camp in the summer and childcare during the school year, and buy that new pair of cleats for their aspiring soccer player.
And today’s changes will help parents even more. A single mom earning $35,000 a year with a three year-old and a six year-old received more than $11,000 tax-free through the CCB for the 2017 and 2018 benefit period. Today she’ll see that benefit go up by nearly $600, and it’s because we were able to index the CCB two years early because our economy is doing so well.
Putting more money in the pockets of families every month means putting more kids in dance lessons and in warm winter boots. We promised to index the CCB to inflation. I’m proud that we delivered two years earlier than expected because we have seen the kind of growth that has come through our economy and the hard work Canadians have been doing across the country because of the confidence that comes with having a little extra money in your pockets every month to spend on your kids tax-free.