Low inflation rate means smallest-ever increase for Canada Child Benefit
The Canada Child Benefit is increasing again this year, but by the smallest amount in its history.
The CCB is tied to inflation as a measure of the cost of living. The COVID-19 pandemic has weighed down inflation rates, meaning a small increase for the CCB.
The federal government announced Tuesday that this year’s 2021-22 benefit will pay families up to $6,833 for children under six, and up to $5,765 for children under 18.
That’s about a 1% increase from last year. Families with young children will get $68 more and families with older children will get $56 more.
- See also:
“The CCB has made life easier and more affordable for moms and dads across the country,” Prime Minister Justin Trudeau said in a Twitter video. “It’s about building a country that is a fairer and more equal place to live.”
Today marks five years since our government introduced the Canada Child Benefit. It has helped make life more affordable for families. It has lifted nearly 435,000 kids out of poverty. And today, it’s going up again – to make sure your kids can have the very best start in life. pic.twitter.com/laDETyI7Oj
— Justin Trudeau (@JustinTrudeau) July 20, 2021
In 2021, families eligible for the CCB can also receive additional temporary support of up to $1,200 per child under the age of six as a COVID-19 relief measure.
Trudeau’s Liberal government introduced the non-taxable benefit back in 2016. This is the fifth year it has been available to families.
Follow Channels and Categories