Freeland recalls the assistance measures offered to Canadians

Ottawa is counting on measures already announced in the past to help the most disadvantaged to face inflation, including the improvement of the Canada workers allowance, the affordable daycare program or the dental care program.

• Read also: A $7 billion plan to fight inflation in preparation in Ottawa

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Finance Minister Chrystia Freeland offered a summary of her plan at an event in Toronto on Thursday, amid growing fears of a recession.

“We will take real, tangible action to control inflation and make life more affordable for Canadians,” said Ms. Freeland, calling inflation the “biggest challenge” facing Canadians.

The minister pointed out that major government benefits would be indexed to inflation. This includes, in particular, the Canada child benefit and the guaranteed income supplement.

Old Age Security (OAS) will be increased by 10% and fixed to inflation too, indicated Chrystia Freeland.

The latter finally recalled that a sum of $500 will be paid to nearly one million low-income tenants across the country.

It is estimated that all of these measures, some of which were already known more than a year ago, should cost $8.9 billion in public funds.

Aware that her government’s interventionist approach is not going to please the most conservative in the banking and financial sector, Minister Freeland wanted to reassure the audience at the Empire Club by reaffirming that Ottawa takes fiscal responsibility seriously.

“I am determined to see our debt to GDP ratio continue to decline and our deficits continue to shrink. We must, and we can, repay the debt we have accumulated due to the pandemic,” she said.

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