Federal Budget 2017 Families

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.

Please don’t hesitate to contact us if you have any questions.