Since the early 2000s, the cost-of-living requirement has remained stagnant at USD 10,000 for a single applicant. However, now the threshold will now be raised to USD 20,635, representing 75 per cent of the low-income cut-off (LICO).
To the surprise of no one, the cost of living has had a major impact on people's spending habits. For many Canadians, prioritizing savings or seeking financial aid has become essential. The Quebec government offers a range of financial aid programs for low-income residents including a solidarity tax credit, social assistance, and the basic income program, to name a few. Additionally, residents have the option of applying to the provincial Shelter Allowance Program, designed to assist those struggling to cover their rent.
To the surprise of no one, the cost of living has had a major impact on people's spending habits. For many Canadians, prioritizing savings or seeking financial aid has become essential. In Quebec, residents have the option of applying to the provincial Shelter Allowance Program, designed to assist those struggling to cover their rent.
The Ipsos survey conducted for Global News found one-third of Canadians agree the cost-of-living crisis and other economic concerns should take priority over climate action.