Many families will see a boost to their bank account this summer, as the province announces the expansion of the BC Family Benefit to help ease cost of living pressures.
“Families haven’t seen cost increases that we are seeing right now, for a generation, the fastest run up in interest rates from the central bank,” said Premier David Eby.
“This is the time when people need support.”
The measures target low- and middle-income British Columbians, providing more funds to support basic needs.
“We are boosting the benefit in two ways; more families will be able to access this addition support and we have increased the amounts.”
Families will receive on average $445 more than last year with a one-year bonus added to BC Family Benefit payments.
About 340,000 families with children, which is 66,000 more than last year, will receive the benefit through monthly deposits in their bank accounts or mailed cheques starting in mid-July.
The 25% increase through the bonus means a family of four could potentially receive as much as $3,563 annually, while a single parent with one child could receive as much as $2,688.
“With rising costs of food, clothes, childcare and housing, parents are struggling to get by,” said Katie Bartel, a parent.
“Families are looking for support from their schools, communities and the government. The BC Family Benefit bonus plays a vital role in reducing child poverty, supporting healthy child development and fostering economic stability within communities. By investing in the well-being of children, the B.C. government can help alleviate financial burdens and create more opportunities for all families to thrive, ensuring a more equitable and inclusive society.”
The BC Family Benefit is a payment from the Government of B.C. delivered to people by direct deposit or cheque as a payment from the Canada Revenue Agency and arrives as a combined payment with the federal Canada Child Benefit.
“We know people are feeling the effects of high prices and stretched budgets,” said Katrine Conroy, Minister of Finance.
“That’s why we’re increasing this year’s BC Family Benefit payments to help lighten the burden. I encourage people to file their taxes to ensure they’re receiving the supports they’re eligible for.”
The Province is also making it faster and easier for people to access benefits and to connect to services to help save money with the launch of BC Benefits Connector. Find out more at this one-stop online resource with clear steps on what people need to do to access government benefits and programs: https://gov.bc.ca/BCBenefitsConnector
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