Canada Child Benefit to Increase by $200 in July 2018 2017-10-24
In the Liberal government’s fall update on October 24, 2017, Finance Minister Bill Morneau indicated that the Canadian Child Benefits (CCB) for eligible Canadian parents will increase by $200 per month.
“Our Government will strengthen the Canada Child Benefit, by making sure it keeps pace with the cost of living. Starting next July—two years ahead of schedule—tax-free CCB amounts for families with two children will go up by approximately $200. The year after that, families can count on $500 more”, Minister Morneau said.
He also said that “With the Canada Child Benefit (CCB), we're lifting 300,000 children out of poverty, and we've put more money in the pockets of 9 out of 10 families. These families contribute to their community and the Canadian economy, by in turn investing in their family through new skates, piano lessons or through healthier food.”
This is definitely a welcome news for parents that want to keep their children active and healthy, it also gives a positive signal to the kids sports and activities industry that demand for their services will sustain.
The full Fall Economic Statement—Remarks by the Honourable Bill Morneau, Minister of Finance can be found here.