The Affordability Plan is a suite of measures totaling $8.9 billion in new support in 2022 to help make life more affordable for millions of Canadians.
Enhancing the Canada workers benefit
By enhancing the Canada Workers Benefit at a cost of $1.7 billion in new support for low-income workers this year, the Government of Canada is putting more money in the pockets of close to 3 million Canadians.
This means that a modest-income couple could receive up to $2,400 more in support this year.
At a time of global inflation, most Canada Workers Benefit recipients are receiving this increased support through their 2021 tax return.Learn more about the Canada Workers Benefit
A 10% increase to Old Age Security (OAS)
Life can get even more expensive as we get older. That is why the government is increasing the OAS pension for seniors 75 and older by 10% as of July 2022.
This means over $800 in new support to full pensioners in the first year, and increased benefits for more than three million seniors.Learn more about Old Age Security
Affordable early learning and child care
Because of the Government of Canada’s new affordable, universal early learning and child care system, Canadian families will see their fees reduced by an average of 50% this year.
The government’s plan means savings for families of up to $6,000 in British Columbia and Ontario, $5,610 in Alberta, $4,690 in Nova Scotia, $5,090 in Newfoundland and Labrador, $3,910 in Saskatchewan and New Brunswick, $3,390 in Prince Edward Island, and $2,610 in Manitoba.
In Quebec, which has a child care system of its own, the government’s plan will help create about 37,000 new child care spaces.Learn more about affordable Early Learning and Child Care
A housing affordability payment
The Government of Canada knows that housing is more expensive than ever. As the government works to build more homes, fight unfair practices, and make housing more affordable for Canadians, it is also providing a one-time $500 payment to nearly one million Canadians who are struggling with the cost of housing.
Dental care for Canadians
Seeing a dentist is important for our health, but it can also be expensive. One-third of Canadians do not have dental insurance, and in 2018, more than one in five Canadians reported avoiding dental care because of the cost. That is why the government will provide dental care to families with an income of less than $90,000 annually
The government’s dental care program will start with children under 12 years old this year, meaning families will have an easier time accessing and paying for the cost of dental care for their kids.
Benefits that are indexed to inflation
This includes the Canada Child Benefit, the Goods and Services Tax Credit, the Canada Pension Plan, OAS, and the Guaranteed Income Supplement.
This means over $766 in new support to full pensioners in the first year, and increased benefits for more than three million seniors.
Helping Canadians while fighting climate change
Climate Action Incentive Payments
Because of the Government of Canada’s price on pollution, in the provinces where the federal system applies, a family of four will receive $745 in Ontario, $832 in Manitoba, $1,101 in Saskatchewan, and $1,079 in Alberta in Climate Action Incentive payments for the 2022-23 fuel charge year.
The majority – 8 families out of 10 – will receive more in Climate Action Incentive payments than they will pay as a result of the price on pollution, with low-and middle-income families – who generally produce fewer emissions – benefitting the most.
As the price on pollution increases, Climate Action Incentive payments will also increase. The Government of Canada does not keep any direct proceeds from pollution pricing.
Budget 2022 also includes a comprehensive plan to make housing more affordable and investments focused on growing a more resilient economy to deliver more good-paying jobs for Canadians.
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