The Canada Child Benefit (CCB) will be increased July 20 for the remainder of the 2020-21 benefit year, to support families in their living costs and those associated with raising children.
Prime Minister Justin Trudeau announced the change Saturday during his latest public address at Rideau Cottage in Ottawa, along with additional federal funding and medical advancements related to COVID-19.
"Every summer for the past three years we have boosted the CCB to help keep up with the cost of living," he went on to say. "This summer will be no different."
Moving forward, recipients of the tax-free support can receive a maximum benefit of $6,765 per child under the age of six, and $5,708 per child aged six to 17. Meaning single-parent families and two-parent families can receive anywhere in the area of an additional $126-174 a month, depending on household income and the number of children in their care.
This has been promised on top of the one-time $300 increase to be issued May 20, for each child of one household, equivalent to an investment of $2 billion nationwide.
“Raising children is expensive. That’s why we created the Canada Child Benefit, to help parents pay for what their families need,” said Trudeau in a statement released later that day.
“Whether it’s used for groceries, new clothes, or at-home activities, this extra support will make things easier on them as they deal with regular everyday expenses and the extra challenges caused by COVID-19.”
Trudeau also announced that Health Canada had approved the first clinical trials for a potential COVID-19 vaccine, to take place at the Canadian Centre for Vaccinology in Halifax. This will be done in close collaboration with potential manufacturers, he said, to ensure efficient production and distribution should a product be approved.
"Research and development take time and must be done right but this is encouraging news."
While the world waits for a vaccine, Trudeau said the government will continuing supporting the public with additional funding for female entrepreneurs and the Canadian Red Cross.
To support both individuals and communities, Trudeau announced that the federal government would also be allocating $100,000 to the Canadian Red Cross. Funds of which, are intended to support the organization in its continued efforts related to COVID-19 as well as to prepare for potential floods and wildfires.
"From the outset, our No. 1 priority has always been to protect the health and safety of Canadians and we've been able to count on the Canadian Red Cross to do just that."
Lastly, the government will be investing $50 million in a new strategy to support female entrepreneurs, with more details to be released at a later date.
Watch the live-streamed address in the video below.
