More than 350,000 B.C. families are starting to receive their second family benefit boost from the provincial government.
A media release from the ministry of finance states the monthly payments for low and moderate-income families for January through March are being increased.
A family with two children can receive up to $350 more than usual over the three months. Added to the regular monthly payments, the enhancement means those families will get as much as $330 each month.
“Global inflation continues to squeeze household budgets and paying for essentials like groceries and gas is hard on many families right now,” said Katrine Conroy, minister of finance.
“Through the second enhanced BC Family Benefit payment, parents will have a little extra money this month to stretch their budgets and provide their family with life’s essentials.”
Inflation in B.C. peaked at 8 per cent in May 2022 and dropped to 6 per cent as of December 2022 last year. However, inflation and prices remain high, particularly for shelter, food and transportation.
The Bank of Canada has forecasted inflation to fall an additional three per cent by mid-2023 and return to its two per cent target in 2024.
People can expect to see their family benefit and the bonus cost-of-living payment as a deposit or cheque through the Canada Revenue Agency alongside the federal Canada Child Benefit program.