Liberals release three-pronged affordability plan for Canadians

Prime Minister Justin Trudeau released the details of a three-pronged plan targeted towards low-to-modest income families on Tuesday amid a Liberal caucus retreat in New Brunswick.

“From helping families pay rent to making sure people can afford the dental care they need and putting hundreds of dollars back in the pockets of Canadians, this suite of new measures will support families who need it the most, when they need it the most. As we head into a new Parliamentary sitting, we are working hard to continue delivering results for the middle class and those working hard to join it,” Trudeau said.

The measures in these bills would:

  • Double the Goods and Services Tax Credit (GSTC) for six months, delivering support to roughly 11 million individuals and families who receive the tax credit, including about half of Canadian families with children, and more than half of Canadian seniors. Single Canadians without children would receive up to an extra $234 and couples with two children would receive up to an extra $467 in their pockets this year. Seniors would receive an extra $225 on average.
  • Provide a Canada Dental Benefit to children under 12 who do not have access to dental insurance, starting this year. Direct payments totalling up to $1,300 per child over the next two years (up to $650 per year) would be provided for dental care services. This is the first stage of the government’s plan to deliver dental coverage for families with income under $90,000, and will allow children under 12 to get the dental care they need while a comprehensive national dental care program is being developed.
  • Provide a one-time top-up to the Canada Housing Benefit to deliver $500 to 1.8 million Canadian renters who are struggling with the cost of housing. This new one-time federal benefit will be in addition to the Canada Housing Benefit currently co-funded and delivered by provinces and territories. The federal benefit will be available to applicants with an adjusted net income below $35,000 for families, or below $20,000 for individuals, who pay at least 30 per cent of their income on rent.

The Liberals said this targeted support package totals more than $4.5 billion, of which $3.1 billion is in addition to funding previously allocated in Budget 2022.

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