TORONTO, Oct. 25, 2017 /CNW/ - UNICEF Canada commends the Government of Canada's commitment to tie increases in the Canadian Child Benefit (CCB) to the cost of living, announced in the fall economic update yesterday. With a forecast for a significant reduction in the budget deficit, the first priority was to reinvest in Canada's children. "This is what putting our kids first looks like," said David Morley, President and CEO of UNICEF Canada.
Beginning in July 2018, CCB payments and the qualification threshold for families' incomes will be adjusted to annual cost of living increases. The projected investment of an additional $5.6 billion over five years will undoubtedly contribute to the well-being of Canadian children from coast to coast to coast.
"It is great to see the federal government take action two years ahead of schedule to protect CCB payments from eroding in real terms as the cost of living increases," said Morley. "Countries that have robust income benefits for families with children have great child outcomes. Canada still has a lot of room to do what our peers do for kids, but we are moving closer."
UNICEF Canada's Report Card 14, Oh Canada! Our kids deserve better illustrated that social transfers in high-income countries reduce child poverty rates by about one-third, on average. Before the introduction of the CCB, Canada ranked 29th internationally compared to other wealthy countries for social transfers to children. With the renewed CCB, Canada's ranking may move to 20th place or better and the child poverty rate may fall by close to 40 per cent.
The infusion of spending on child development is also helping to boost the economy. "The virtuous cycle of investing in Canada's kids is paying dividends for all," said Morley. "UNICEF Canada looks forward to continuing to work with the federal government as we make Canada an even better place for children and youth."
UNICEF has saved more children's lives than any other humanitarian organization. We work tirelessly to help children and their families, doing whatever it takes to ensure children survive. We provide children with healthcare and immunization, clean water, nutrition and food security, education, emergency relief and more.
UNICEF is supported entirely by voluntary donations and helps children regardless of race, religion or politics. As part of the UN, we are active in more than 190 countries - more than any other organization. Our determination and our reach are unparalleled. Because nowhere is too far to go to help a child survive. For more information about UNICEF, please visit www.unicef.ca. For updates, follow us on Twitter and Facebook or visit unicef.ca.
SOURCE UNICEF Canada
For further information: For interviews or more information, please contact: Stefanie Carmichael, UNICEF Canada, 416-482-6552 ext. 8866, email@example.com