BARRIE – It’s been six years since the federal government provided families with a way to combat the rise of inflation with their Child Benefit plan.
With inflation rates skyrocketing across Canada, the Minister of Families, Children and Social Development, Karina Gould, announced that the maximum annual Canada Child Benefit will increase to help families cope with the rising cost of living. For the 2022/23 benefit year, families most in need can receive up to $6,997 per child under the age of six and $5,903 per child aged six through 17.
"Canadian families are worried about the rising costs associated with raising kids, but they are not in this alone, said Gould. “Through our new Affordability Plan, the continued indexation of the Canada Child Benefit, and our Canada-wide early learning and child care system, we will continue to prioritize the needs of children and families, and help put money back in the pockets of Canadians when they need it the most."
Since 2015, the Government of Canada has delivered $27 billion over five years to build a Canada-wide early learning and child care system in collaboration with provincial, territorial and Indigenous partners.
This investment included the $10-a-day childcare fee to supplement families who are struggling to pay for childcare services.
However, Kenora MP Eric Melillo doesn’t quite see the federal government’s investments into child care the same way.
On Twitter Melillo voiced his concerns about the rise of inflation and the federal government’s lack of an action plan.
“Canada's inflation rate has reached a 39 year high, and the current Liberal government still hasn't presented a real plan to address this crisis. We need a government that fights inflation, rather than fuels it,” tweeted Melillo.
The federal government introduced the tax-free Child Benefit in July 2018. Child Benefit is based on income and provides increased support for low- to middle-income families with children.
Overall, there were 450,000 fewer children living in poverty in 2019, and 782,000 fewer children living in poverty in 2020 compared to 2015. Although the decrease in children's poverty between 2019 and 2020 is largely attributed to temporary COVID-19 emergency benefits (including additional payments made through the CCB), the poverty rate for children has been decreasing since 2015.
