$10 child care, a break on car registration and other ways N.L.'s budget will affect your wallet - Action News
Home WebMail Wednesday, November 13, 2024, 02:15 AM | Calgary | -2.2°C | Regions Advertise Login | Our platform is in maintenance mode. Some URLs may not be available. |
NL

$10 child care, a break on car registration and other ways N.L.'s budget will affect your wallet

Newfoundland and Labrador's latest budget aims to ease a few things for manyresidents, particularly young families and people who own houses or cars.

Budget to double rebate to urge oil-burning homeowners to convert to electricity

Children's boots and coats in cubbies.
Parents in Newfoundland and Labrador will pay $10 per day per child for care spaces, starting in January. (Olivier Plante/Radio-Canada)

Newfoundland and Labrador's latest budget aims to ease a few things for manyresidents, particularly young families and people who own houses or cars.

For parents of children in child care, daily costs will drop noticeably. Spaces that cost about $35 in 2020 will be $10 a day, starting in January.

As well, the government is eliminating the retail sales tax on home insurance, although just for one year.

At the same time and again for just a year the government is lopping 50 per cent off the cost of keeping a car or a light truck in good standing with motor vehicle registration. The annual registration fee will drop from $180 to $90.

The government said the one-year changes were in response to rising concerns about the cost of living, noting that they have been linked to spiralling fuel costs driven by Russia's invasion of Ukraine this winter.

The government, though, did not include any across-the-board measures to counter heating costs, such as tax relief on fuel.

Funding has been increased for a nutritional supplement offered to low-income families. (Paul Daly/CBC)

However, the province will spend an extra $2 million this year to help more homeowners who burn oil to convert to electricity. The government rebate will double to $5,000.

In a similar vein, the government will offer a $2,500 rebate to people who buy or lease an all-electric vehicle, and $1,500 for people who choose a hybrid vehicle.

No new tax increases

Finance Minister Siobhan Coady touted the budgetas being good for consumersand taxpayers.

"This is also about balance supporting families and ensuring strong financial management," she said during her budget speech Thursday at the House of Assembly.

Finance Minister Siobhan Coady says the current budget has several planks that address spikes in the cost of living. (Patrick Butler/Radio-Canada )

Coady said the child-care fee cut alone will save families about $6,300 per child, compared with expenses two years ago, and will "[help] more women enter and remain in the workforce."

Coady noted the budget contains no new tax or fee increases.

The budget does contain several measures aimed at people living on fixed or limited incomes. Some of them including a 10 per cent hike to an income supplement paid to about 162,000 people were announced in March as part of a cost-of-living response.

Passes for the Metrobus and GoBus services in metro St. John's will now be extended to seniors who receivea guaranteed income supplement, and to youth who are in care or who receive specific youth services.

A nutrition supplement for low-income pregnant people and families with children under one will rise from $100 a month to $150 a month.

Read more from CBC Newfoundland and Labrador

Add some good to your morning and evening.

Subscribe to our daily newsletter for the top stories in Newfoundland and Labrador.

...

The next issue of CBC Newfoundland and Labrador newsletter will soon be in your inbox.

Discover all CBC newsletters in theSubscription Centre.opens new window

This site is protected by reCAPTCHA and the Google Privacy Policy and Google Terms of Service apply.