First $500 Cheques to Lower Income

About a third of the $500 cost of living cheques have gone out with those on the lower end of the income scale receiving theirs first.

Finance Minister Siobhan Coady says the program will end up costing about $430 million. It’s a one-time payment but there is also a one-time subsidy up to a maximum of $500 for those who use oil heat and make less than $100,000.

Minister Coady expects to have all of the $500 cheques out by Christmas.

She says the provincial government has reduced the gas tax to the second-lowest in the country, increased the seniors’ benefit and raised the amount which people on income support receive.

Story courtesy of VOCM.