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Benefits increase and then decrease with income. At an income of $18,529 for single individuals or $28,576 for families the benefits decrease to $0. [13] WITB is estimated to benefit 1.4 million working Canadians annually, at a cost to the federal government of CDN$1.2 billion. [12]
January 1, 2024 Ontario [21] 17.20: October 1, 2024 Students under age 18 (working during a school break, summer holidays, or 28 hours or less per week while school is in session): $16.20; Homeworkers (employees who do paid work in their own homes - includes students and supersedes the student wage): $18.90
While supporters portray "working for families" as meaning "making efforts for the benefit of families", others interpret the phrase as "[giving] families work to perform". [citation needed] John Key called the scheme "communism by stealth" but did not repeal or cut back the Working for Families tax credits, during his time as Prime Minister. [10]
Between mid-2022 and early 2024, Canada's unemployment rate increased by 1.6%, a rise historically associated with recessionary periods in Canada since the 1970s. This increase, though smaller relative to its prior major recessions, was considered significant given its emergence from post-pandemic record lows.
In Canada, the entirety of the social provisions of government are called social programs (French: programmes sociaux), as opposed to social welfare in European/British parlance. Like in the United States , welfare in Canada colloquially refers to direct payments to low-income individuals only, and not to healthcare and education spending. [ 2 ]
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The Canadian federal budget for the fiscal years of 2024–25 was presented to the House of Commons by Finance Minister Chrystia Freeland on 16 April 2024. [1] The budget's slogan is "Fairness for every generation", suggesting the government planned to help younger people.
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