Basic Income: Reduce Inequality and Poverty

Sault Online

Basic income (BI) schemes are a political and social issue. BI addresses inequality and could help to eliminate poverty. Doug Ford cancelled the Ontario BI Pilot program. 

On January 23rd, the Basic Income Canada Network (BICN) released its “Basic Income: Some Policy Options for Canada” report. The researchers were Chandra Pasma and Sheila Regehr. 

The BICN report describes BI as: “A basic income is an unconditional cash transfer from government to individuals to enable everyone to meet their basic needs, participate in society and live with dignity, regardless of work status.”

According to the BICN report, a BI unconditional stipend for adults 18 and older would cost between $134 Billion and $637 Billion. Depending on three different proposed options.

The report chose a $22,000 BI amount for individuals because that’s Statistics Canada’s Low-Income Measure after taxes. BICN used Statistics Canada’s Social Policy Simulation Database and Model to provide the report’s analysis. 

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