Subjects: ECO, CFG
Budget 2018: More help for those who need it with the new Canada Workers Benefit
QUÉBEC, March 14, 2018 /CNW/ - The Government of Canada's plan to build a strong middle class is working. It is creating jobs and economic growth and building confidence. In Budget 2018, the Government is taking the next step to ensure that all Canadians have the opportunity to contribute to and benefit from a growing economy. The Government proposes to strengthen programs that make the biggest difference in people's lives, and is making those programs easier to access.
Today, the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development, was in Québec to highlight Budget 2018 investments and speak about the new Canada Workers Benefit (CWB), a strengthened version of the Working Income Tax Benefit (WITB). The CWB will allow more low-income workers to keep more of their paycheque while they work, encouraging more Canadians to join the workforce. It offers real help to more than 2 million Canadians who are working hard to join the middle class, and will raise around 70,000 Canadians out of poverty by 2020.
With almost $1 billion in new funding starting in 2019, the proposed CWB will increase both maximum benefits and the income level at which the benefit is entirely phased out. As a result, a low-income worker earning $15,000 could receive up to almost $500 more from the CWB in 2019 than under the WITB in 2018 to invest in the things that are important to them. Unlike the WITB, starting in 2019, everyone who can benefit from the CWB will receive it even if they do not claim it when they file their taxes.
Canada's prosperity depends on making sure every Canadian has an equal and fair chance at success. That is why in Budget 2018, the Government is putting gender at the heart of its decision-making, working to help support women and girls, reduce the gender wage gap and increase the participation of women in the labour force?which helps boost economic growth for all Canadians. Advancing women's equality in Canada will drive economic growth, while boosting the income of Canadian families. More women in leadership positions won't just grow the economy, create jobs, and strengthen communities?it will also lead to innovation and change in the workplace that will benefit everyone.
Budget 2018 plans continue to invest in the middle class and take significant steps to ensure everyone has the opportunity to fully contribute to the growth of the Canadian economy.
Quote
"We know that Canadians work hard to make a better life for themselves and their families. This is why we continue to double down on our plan to invest in the middle class by providing Canadians with the opportunity to realize their full potential. An enhanced Canada Workers Benefit will expand opportunities for low-income workers to benefit from their efforts, and by helping those who need it, the Government is helping to build a stronger economy that benefits all Canadians."
? The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development
Related Products
- Budget Plan
- Budget Speech
- Introducing the Canada Workers Benefit Backgrounder
- Equality and Growth Backgrounder
SOURCE Employment and Social Development Canada
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