Prime Minister Justin Trudeau announced his government has tweaked the Canada Child Benefit (CCB) plan so that it’s indexed to the rate of inflation.

As per the revision, an average Canadian family with two children will receive approximately $200 more in CCB payments next year and about $500 more in 2019.

The CCB is a tax-free monthly payment made to eligible families to help them raise children under 18 years of age.

The move — starting summer 2018 — will help middle-class Canadians to pay for recreational and other expenses for their children, explained Trudeau, who stopped by the Gore Meadows Community Centre in Brampton, Thursday, Nov. 2 to announce the new changes.

“The Conservative Party used to send the child benefit cheque to everyone, which included millionaire families that didn’t need it,” the prime minister said. “They (Conservatives) also had a child benefit cheque that was in part taxable. We changed the various benefits including some taxation for things like sporting equipment to one Canada Child Benefit, which is a monthly cheque that’s non-taxable and that will give more money to nine out of 10 Canadian families.”

According to an economic update tabled by Finance Minister Bill Morneau in the House of Commons recently, as a result of the adjustment made to CCB, the government will be paying out an additional $5.6 billion over the next five years to families.

“The Canada Child Benefit cheque parents receive monthly will keep pace with the rise in cost of living,” Trudeau said. “That means parents will receive a monthly tax-free cheque that’s even more generous than the current one.”

Jagdeep Mann, a Brampton parent, welcomed the new CCB as a parent to three children of ages eight, five and four, saying the money will help pay for daycare, extra-curricular activities and more.

“I am a parent and a chartered accountant, so not only do I understand the parental benefits of this, but I understand the tax benefits as well,” Mann said. “I can tell you it’s a game-changer and unbelievable windfall for middle-class families like myself.”