Speaking from the Liberal convention on Tuesday, Trudeau unveiled the spending plans, which build on commitments made in the most recent federal budget earlier this year. But since it came out in April, inflation has picked up and has remained stubbornly high even as the Bank of Canada pushes forward with rate hikes, keeping the cost of everything from groceries to gas and all manner of consumer goods and services under control. high.

		Read more: NDP’s Singh says party will push government to act on dental care, housing 		
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			NDP’s Singh says party will push government to act on dental care, housing

Story continues below ad 2:32 Another rate hike, but is it really helping to reduce inflation? Another rate hike, but does it really help reduce inflation? Of that $4.5 billion, $3.1 billion is in addition to the affordability spending announced in this budget, Trudeau said. “These will be the first pieces of legislation we introduce when the House [of Commons] is coming back,” he told reporters gathered at the caucus retreat. He billed the dental allowance for some children under 12 as the “first step” in a key commitment the Liberals made to the NDP in the government deal the two parties struck. Story continues below ad This Canada Dental Benefit will be for children under 12 who do not have access to dental insurance and will only be for families with an income of less than $90,000 per year. It will provide direct payments of up to $1,300 per child over the next two years. Trending Stories

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NDP Leader Jagmeet Singh had warned there would be “repercussions” if the plan for dental care for children under 12 wasn’t implemented by the end of the year. 4:19 New Liberal/NDP dental care proposal New Liberal/NDP dental care proposal – March 24, 2022 Also, the Canada Housing Benefit one-time top-up will be available to rent families with a net income of less than $35,000, or to rent to individuals with less than $20,000, “who pay at least 30 per cent of their income in rent,” according to by announcement of the government. The benefit is expected to go to about 1.8 million Canadian renters and be about $500. Story continues below ad The 11 million Canadian households already receiving the GST tax credit will also be doubled for six months. For single Canadians without children, this is expected to mean an additional $234 in the GST credit, while couples with two children would get about $467 this year.

		Read more: Freeland pushes affordability programs, but no new spending, to fight inflation

Trudeau characterized the spending as targeted when asked by reporters, while Finance Minister Chrystia Freeland said Canada’s economy is well-positioned to meet global challenges. “I think the most important thing is to understand that there are Canadians out there who are really hurting … what we’re doing with these particular measures is targeting those most vulnerable, those who have been hit the hardest by the increases in inflation,” Trudeau said. . “They are also sufficiently targeted that we can be confident that they will not contribute to an increase in inflation.” Freeland acknowledged that the global economy faces significant challenges, but said regulations that apply to Canadian institutions, such as banks, mitigate some of the domestic risks Canada faces. “Right now we’re in a very challenging, very volatile global environment, just like we were in 2008,” Freeland said. “We have a system that’s very stress-tested, and as the global economy goes through a lot of stress, it’s like a big lifeline for Canadians.” Story continues below ad Last month, Freeland stressed the need for the government to avoid adding “fiscal fuel” to the fires of inflation through efforts to help Canadians deal with a growing lack of affordability. 4:08 Freeland doesn’t want to pour ‘fiscal fuel on the flames of inflation’ in pursuit of affordable Canadian living Freeland doesn’t want to pour ‘fiscal fuel on the flames of inflation’ in pursuit of affordable Canadian living – August 4, 2022 © 2022 Global News, a division of Corus Entertainment Inc.