VANCOUVER, Oct. 27, 2017 /CNW/ - When you have an economy that works for the middle class, you have a country that works for everyone. The investments the Government has made in people, in our communities and in our economy are working. Canada has the fastest growing economy in the G7?and we are reinvesting the benefits of that growth back into the people who contribute most to that success.
Today in Vancouver, British Columbia, Patty Hajdu, Minister of Employment, Workforce Development and Labour highlighted how the Government intends to strengthen the Canada Child Benefit (CCB) by making annual cost of living increases starting in July 2018?two years ahead of schedule. For a single parent of two children making $35,000, a strengthened CCB will contribute $560 in the 2019?20 benefit year towards the cost of raising his or her children. That means more money to help Canadian families with the high cost of raising a family. The added confidence the CCB brings to families has been shown to have an immediate impact on economic growth.
This week's Fall Economic Statement provided an update on how the Government's investments in the economy and the middle class are delivering real results for Canadians:
As our plan works to strengthen the economy, the Government will continue to make smart, targeted investments in an innovative, inclusive and sustainable economy that works for the middle class. With Canada's economy growing faster than it has in over a decade, the Government is reinvesting in Canada's middle class by cutting taxes for small business, and providing more money to families through the CCB, while helping low-income Canadians by bolstering the Working Income Tax Benefit. By working together, we will make sure Canadians have every opportunity to succeed, and to build their future and a country we can all be proud of.
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"The tax-free Canada Child Benefit provides a welcome boost for Canadian parents and helps them with the high costs of raising a family. Whether the extra money is used for signing their children up for summer camp or helping cover the grocery bill, the CCB helps families across the country. The investments we're making in Canadians will put more money in the pockets of those who need it most, create more well-paying jobs and give all Canadians a fair shot at success."
- Patty Hajdu, Minister of Employment, Workforce Development and Labour
"As an organization that has been working with diverse families in our community for the past 40 years, we applaud initiatives, such as the Child Tax Benefit,that provide additional dollars for families to better address the increasing costs of raising children today."
- Joel Bronstein, Executive Director of Little Mountain Neighbourhood House Society
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SOURCE Employment and Social Development Canada
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