POST Online Media Lite Edition



 

Almost $3 billion for families and jobs in Canada

Staff writer |
Employment and Social Development Minister Pierre Poilievre and Member of Parliament Royal Galipeau (Ottawa-Orléans) announced that the Canadian government will transfer almost $3 billion to families and the economy on Monday, July 20.

Article continues below






On that single day, the lump-sum Universal Child Care Benefit payment will land in almost 4 million mailboxes or bank accounts, totaling over $2.986 billion, the biggest single one-time payout in history.

A family with two kids will receive as much as $1,000 in a single day under the Harper Government's Universal Child Care Benefit (UCCB). Parents may spend this money on child care services, back-to-school supplies, sports activities and much more, boosting the economy and creating jobs across Canada.

‎Under the boosted UCCB, families will receive almost $2,000 per year for each child under 6 and $720 per year for each child aged 6 through 17. The new benefit amounts will be retroactive to January 1, 2015, and be reflected in monthly payments.

That means families will receive payments of about $520 for each child under 6 and $420 for each child 6 through 17 on July 20. The boosted UCCB will benefit almost 4 million families—double the number of families that previously benefited from the program.

This is on top of the nearly $2 billion Family Tax Cut that went to families in the form of tax refunds this spring.

The Family Tax Cut allows couples with children under 18 to split their income and reduce their tax burden by as much as $2,000. In addition, payments will continue under the Child Tax Benefit, which remains unchanged.


What to read next

Ukraine gets $1 billion in direct investment annually
Hillary Clinton proposes $1 trillion in government spending to boost economy
Brazilian public debt dropped in July