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Canada  

Canada Child Benefit plan

Government ministers and Liberal MPs held dozens of events Thursday to highlight two years since the Liberals introduced the Canada Child Benefit. Starting Friday, the value of the means-tested benefit goes up to keep pace with inflation.

Some numbers about the benefit to keep in mind:

$23.7 billion: Planned spending on the child benefit this fiscal year

$25.1 billion: Budgeted spending on the child benefit in fiscal year 2022-23

3.7 million: Families across Canada who receive the benefit

20: Estimated percentage of eligible Indigenous families on-reserve who are missing out on payments

$2,300: Average increase per year for families than the previous system

$6,496: New maximum annual benefit for a child under six

$6,400: Previous annual maximum for each child under six prior to payments being indexed to inflation

$5,481: New maximum annual benefit for a child age six to 17

$5,400: Previous annual maximum for each child six to 17 prior to payments being indexed to inflation

$30,450: Income level above which the government begins to reduce the value of benefit payments

300,000: Children the government estimates will be lifted above the low income cut-off as a result of the child benefit



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