In July 2018, the CCB was increased to keep up with the cost of living. This change came two years ahead of schedule to give parents even more money each month to help them provide for their children. The CCB—which is targeted to middle-class families and the parents working hard to join the middle class—is simpler, tax free and provides more money to nine out of 10 families than previous child benefit programs.
Finance Minister Bill Morneau is in Chantilly, France, for the next two days to meet with his fellow G7 Finance Ministers. At the meeting, he will highlight the progress Canada has achieved to make life more affordable for middle class families — encouraging his G7 colleagues to work together to address emerging challenges that make it harder for people to save money and find good jobs.
The Government also committed to returning the remaining direct proceeds to help schools, hospitals, small and medium-sized businesses, colleges and universities, municipalities, not-for-profit organizations and Indigenous communities offset additional costs as a result of carbon pollution pricing and improve their energy efficiency.
The Department of Finance Canada announced today that Canada’s official international reserves increased by an amount equivalent to US$596 million during June to US$86,300 million. This was driven by reserves management funding operations (-US$182 million)1, and a net gain in investments (US$778 million)2.
Today, Finance Minister Bill Morneau was in Port Hope and Cobourg, Ontario, to meet with local business leaders and families to highlight the Government's efforts over the past four years to make life more affordable for Canadians. This includes cutting taxes for the middle class and introducing the Canada Child Benefit, which means that a typical middle class family is $2,000 better off than in 2015.
In keeping with this commitment, Finance Minister Bill Morneau today announced the appointment of Judith Robertson as Commissioner of the Financial Consumer Agency of Canada (FCAC), effective August 19, 2019, for a term of five years. Biographical information can be found below.
Finance Minister Bill Morneau today welcomed the IMF Article IV Staff Report, which finds that as a result of the hard work of Canadians and the Government's plan to invest in the middle class, Canada is now home to one of the strongest economies in the G7, with the lowest unemployment rate on record.
Nearly four years ago, Canadians chose a government with a plan to invest in the things that matter most: good, well-paying jobs; more help with the high cost of living; strong, connected communities; and better opportunities for our children and grandchildren.
Following through on that commitment, Finance Minister Bill Morneau today welcomed Royal Assent of Bill C-101, An Act to amend the Customs Tariff and the Canadian International Trade Tribunal Act.
Today, Finance Minister Bill Morneau welcomed the Royal Assent of Bill C-82, An Act to implement a multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting .
