Inflation rates in Canada have been on the rise since the beginning of the summer of June 2022, and many Canadians have been struggling with food and gas prices. Some have begun to lose jobs, and many face financial difficulties.
The inflation rate keeps increasing, and there are no signs that it will go down soon. The federal government has started to look at ways to soften the harsh inflation blow on Canadians’ finances. Some specific measures have been taken for low-income individuals. For example, the government is doubling the GST rebate as a temporary measurement.
Provincial governments have started taking measures for their provinces to help the citizens relieve some of the financial stress caused by inflation. The province of Manitoba has raised the minimum wage in the hopes of assisting low-income citizens and improving the coping of citizens with inflation. “This wage increase will provide much-needed support to hard-working Manitobans who have been burdened by soaring cost-of-living increases,” said Minister Reg Helwer.
On the other hand, Alberta has released a new inflation relief measure. Alberta is building a plan to help its citizens through these times. “Too many moms and dads are having to choose between nutritious food for their children and making their rising mortgage payments. Many seniors are choosing between filling their needed prescriptions and fuel for their vehicles; as a province, we can’t solve this inflation crisis on our own, but due to our strong financial position and balanced budget, we can offer substantial relief. Hence, Albertans and their families are better able to manage through this storm,” said Alberta Premier Danielle Smith.
The Federal government is also taking measures to decrease inflation. However, The Bank of Canada said this would mean interest rates would go even higher.
Sources:
– Halla Alhamed, U Multicultural
Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of U Multicultural.
In 1978, the United Way and Winnipeg Foundation acknowledged there needed to be an independent organization to support the voluntary sector and volunteerism here in Manitoba. That’s where the idea of Volunteer Manitoba (VM) was born. Since then, the organization has grown to meet the community’s needs by connecting peopleContinue Reading
Finding content that feels authentically Canadian can take a lot of work. Being just north of the United States, a lot of culture and content comes into Canada through cultural osmosis. Add trying to find Black Canadian creators into that equation, and the task can feel quite daunting. Three contentContinue Reading
Scams and Frauds have been around probably as long as civilization has. In 300 BC, one of the first reported fraud cases was between the Greek sea merchants Hegestratos and Zenosthemis, who devised a plan to enrich themselves by taking out an insurance policy on their ship and cargo. InContinue Reading
