Government Introduces Legislation Advancing Plan to Support the Middle Class and Those Working Hard to Join It
October 25, 2016 – Ottawa, Ontario – Department of Finance Canada
The Government of Canada knows that a strong middle class means hard-working Canadians can look forward to a good standard of living throughout their lives and a better future for their children. With Budget 2016, the Government of Canada introduced a bold plan that puts people first and delivers the help middle class Canadians need to prosper and grow the Canadian economy.
The Government today introduced a second Budget Implementation Act in Parliament implementing Budget 2016 measures that will help the middle class and those working hard to join it.
Included in Budget Implementation Act, 2016, No. 2 is a measure that will ensure the new Canada Child Benefit (CCB) grows in line with inflation as of July 1, 2020 so that its real value is not eroded over the long term. Since July, nine out of ten Canadian families are receiving more than under the previous system of child benefits, and hundreds of thousands of children are being lifted out of poverty. The CCB is simpler, tax-free, better targeted and more generous than previous child benefits. The CCB will help parents with the high costs of raising their kids, whether this be for such things as buying healthy food or preparing their kids for winter.
“When middle class Canadians—and those working hard to join the middle class—have money in their pockets to save, invest and grow the economy, everyone benefits. The CCB is delivering the help that Canadian families need today. And by indexing these benefits to inflation, we are safeguarding the gains that Canadians have made through the CCB, and investing in a better Canada for the years and decades to come.”
- Bill Morneau, Minister of Finance
- Overview: Bill C-29 Budget Implementation Act 2016, No. 2
- Government Introduces Plan to Grow Canada’s Middle Class
- Budget 2016: Growing the Middle Class
Office of the Minister of Finance
Department of Finance Canada