As inflation makes groceries more expensive, the federal government says it’s about time Canadians got some help with the bill. As part of the 2023 federal budget, the government plans to introduce a new grocery rebate aimed to help millions cover the rising cost of food.
“Groceries are more expensive today, and for many Canadians, higher prices on essential goods are causing undue stress,” said the feds in a recent statement.
“The federal government is providing new, targeted inflation relief to the Canadians hardest hit by rising food prices.”
There will be $2.5 billion allocated in the federal budget for the one-time grocery rebate, which will go directly to 11 million low and modest-income Canadians and families.
Eligible couples with two children will receive up to $467, single Canadians without children will get up to $234, and seniors will be eligible for around $225.
The new grocery rebate is far from the only initiative proposed in the 2023 budget to “help make life more affordable for Canadians,” in the words of Deputy Prime Minister and Finance Minister Chrystia Freeland.
The feds plan to enhance student financial assistance for the school year starting on August 1st by increasing Canada Student Grants by 40% and raising the interest-free Canada Student Loan limit from $210 to $300 per week of study.
Canada will also implement a new program called the Canadian Dental Care Plan, which would provide dental coverage for uninsured families with an annual income of less than $90,000.
It looks like there are a lot of investments being made in improving affordability for Canadians, and the relief is much-needed.