OTTAWA — 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
