Bill C-30’s goal to help Canadians deal with rising living costs will increase inflation, warn critics By ChristopherGuly cdnpoli (subs)
Deputy Prime Minister and Finance Minister Chrystia Freeland, pictured Oct. 3, 2022, at the House Finance Committee on Parliament Hill. She said the government needs 'to find a balance' between providing support to vulnerable Canadians while maintaining fiscal responsibility.Bill C-30, which unanimously passed the House on Oct.
6, will amend the Income Tax Act in order to double the goods and services tax/harmonized sales tax credit for six months, effectively increasing the maximum annual GST/HST credit amounts by 50 per cent for the 2022-2023 benefit year. According to Finance Canada, it will help support about 11 million eligible individuals and families “with the rising cost of living without adding fuel to the fire of inflation.
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