July 20, 2017 was an exciting milestone for Canada and our government; it marked the one-year anniversary of the Canada Child Benefit, or the CCB.
This time last year the first CCB cheques went out, helping to lift some 300,000 children out of poverty. Children are our most important resource, yet too many Canadian families are struggling to make ends meet. The CCB was developed to help families with the high cost of raising children.
With payments delivered to eligible families every month, the CCB is helping lift approximately 300,000 children out of poverty. This represents a reduction of about 40 per cent in child poverty in Canada. The benefits provide parents with more flexibility to put money towards the things that are important to them, providing roughly $23 billion in payments last year. Compared with the previous range of benefits for children, the CCB is more advantageous for 9 out of 10 Canadian families with children.
The CCB is complemented by other initiatives to support children and families, such as the Multilateral Early Learning and Child Care Framework with provinces and territories, and an Indigenous Early Learning and Child Care Framework. These initiatives support the Government’s commitment to improve the economic well-being of all Canadians and strengthen the middle class and help those working hard to join it.
Investing in children is investing in our future, and I look forward to seeing the benefits this investment will continue to have on Canadian families across the country.