The Liberal government promised billions of dollars to stimulate the economy and put 100,000 people back to work, but what does this mean for you and your family?
We took a look at the budget and broke down for you.
Canada Child Benefit: A new monthly tax-free payment starts July 1 to replace the Universal Child Care Benefit (UCCB) and Canada Child Tax Benefit (CCTB). The new benefit will provide parents up to $6,400 a year per child under six, and $5,400 for those aged six to 18. The amount will be slowly clawed back for households with an income over $30,000 and is eliminated entirely for incomes over $190,000.
EI: Changes to employment insurance will make it easier to qualify for benefits, and extends benefits by five weeks, up to a maximum of 50 weeks, for eligible claimants in the 12 EI economic regions that have experienced the sharpest and most severe increases in unemployment. The government also intends to reduce the EI waiting period from two weeks to one week effective January 1, 2017.
Infrastructure: The government promised $120 billion over 10 years, focusing on public transit, water, waste management and housing infrastructure.
Indigenous peoples: A total of $8.374 billion will be spent over five years to improve education, build new schools, strengthen the child welfare system, build housing and improve water and waste water treatment facilities. The funding includes $40 million over two years toward the National Inquiry into Missing and Murdered Indigenous Women and Girls.
Student grants: Student grants will see an increase of 50 per cent, to $3,000 for low-income and $1,200 for middle-income students. The government has also promised to spend $2 billion over three years to support infrastructure projects at post-secondary institutions.
Arts: The government promised $1.9 billion over five years for arts and culture organizations, including $675 million to modernize and revitalize CBC/Radio-Canada and $550 million to the Canada Council for the Arts over five years.
Seniors: The Guaranteed Income Supplement was increased by up to $947 annually. The government will restore the age of eligibility for Old Age Security to 65.
Veterans: Nine veterans offices will be reopened and $5.6 billion will be spent over six years to increase disability payments for injured veterans and enhance other financial benefits.
Climate change: Over five years, $2.9 billion will be spent on climate change and air pollution, in addition to a number of infrastructure-focused initiatives on both mitigating the effects of climate change and adapting to its realities.
