The Energy Mix
The government’s fiscal watchdog says a guaranteed basic income program at the federal level could cut poverty rates in Canada by up to 40%.
In a new report published last week, Parliamentary Budget Officer Yves Giroux said a Canadian family in the lowest earning group could expect to receive an average of C$6,100 in annual disposable income through such a program.
Higher earners could see their income levels drop because of changes in the tax system to implement a basic income.
While the cost of sending out cheques to qualifying Canadians could reach $107 billion in 2025, the net cost to the federal government would be between $3.6 and $5 billion, depending on the exact model used. The rest would be offset by cuts or changes to tax credits aimed at low-income Canadians, the PBO said.
To read more, click here.