Publications, opinions, and speeches
A Bigger and Better Child Benefit: A $5,000 Canada Child Tax Benefit
Published on 16/01/2008
The federal child benefits system has undergone far-reaching changes over the past two years, with the addition of the Universal Child Care Benefit and non-refundable child tax credit to the existing Canada Child Tax Benefit. While these two so-called “new” programs (they are actually worn retreads from the past) have infused substantial new monies into the child benefits system, they also have made it complex, inequitable and virtually incomprehensible to Canadian families.
In this new report, the Caledon Institute proposes an expanded and redesigned Canada Child Tax Benefit that would boost federal child benefit payments to $5,000 for every child in low-income families, covering much of the basic cost of raising a child in a poor family and significantly reducing the extent of poverty. The $5,000 Canada Child Tax Benefit also would improve child benefits for the large majority of non-poor families, which have modest or middle incomes.
Finally, after close to a century of development, Canada would have a strong and mature child benefit system that would both significantly reduce poverty and provide greater financial recognition for families’ child-rearing responsibilities.
ISBN – 1-55382-266-8