Low-wage workers will receive additional assistance. It further proposes to introduce legislation that would permanently increase OAS payments for recipients aged 75 and over by 10%.Ĥ. The budget proposes $3 billion over five years “to support provinces and territories in ensuring standards for long-term care are applied…” The budget also proposes a one-time payment of $500 in August 2021 to Old Age Security (OAS) recipients aged 75 or over. The budget proposes important support for seniors, including for long-term care and income support. Also, students earning less than $40,000 will now be exempt from making payments on their loans, while the previous threshold had been $25,000. While the value of grants had doubled as a COVID measure, the budget announces that these enhanced amounts will remain in place until July 2023. The Government of Canada is making the grant system more generous and the loan system more forgiving. The budget announces major changes to financial assistance for post-secondary students. But in order for this to be successful, considerable cooperation will be required from provincial and territorial governments.Ģ. The Government of Canada sets out the following goal: “That, in the next 5 years, Canadian parents across the country have access to high quality early learning and childcare, for an average of $10 a day.” This may be the single most important social policy announcement made by any federal government at any point in the past 25 years. The budget commits “up to $30 billion over five years” for early learning and childcare. The budget includes additional COVID-related measures, a major childcare initiative, and various forms of support for low-income Canadians (including for housing and homelessness).ġ. On April 21, the Trudeau government tabled the 2021 federal budget.
La version française de ce billet se trouve ici.
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