Finance Minister Bill Morneau delivered the government’s 2017 federal budget on March 22, 2017. The budget expects a deficit of $23 billion for fiscal 2016-2017 and forecasts a deficit of $28.5 billion for 2017-2018. Find out what this means for families.
Key points for families
- Childcare: The funding could serve to create more affordable childcare spaces for low-income families.
- Parental leave: Extending parental leave and benefits to 18 months, Parents who choose to stay at home longer, however, will have to make do with a lower Employment Insurance (EI) benefit rate of 33 per cent of their average weekly earnings, instead of the current rate of 55 per cent.
- Caregiver benefit: Introduce a new caregiver benefit that’s meant to help families copy with illnesses and injuries.
- Parents who go to school: Single, higher federal income threshold for part-time students to receive Canada Student Grants. Grants don’t have to be repaid.
- Foreign Nannies: Waiving a $1,000 processing fee required to obtain a work permit.
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