The Economic and Social Committee for Emergency Situations announced that it plans to increase child tax benefit payments by 4.7 percent.

This means that the maximum benefit for children under six will increase by $350, from $7,437 to $7,787, and for children aged 6 to 17, it will increase by $295, from $6,275 to $6,570. This amount is also tax-exempt.

In the same context, the government had indexed CCB amounts to better support parents as the cost of living changes.

A spokesperson for Employment and Social Development Canada (ESDC) explained in an email statement, “This indexing means that the maximum benefit amounts and the income thresholds at which benefits begin to decrease are increased annually to keep pace with rising living costs, providing parents with more support each month to help them provide for their children.”

They added, “Both the maximum benefits and income thresholds are indexed annually based on the Consumer Price Index (CPI).”