The Canada Child Benefit has not only lifted kids out of poverty, but it has boosted the country’s economy by $139 billion since 2016, according to a new economic analysis of the initiative being released Thursday.
The benefit, which the report says “acts as a basic income guarantee for families with children” contributes to Canada’s economy and prosperity by increasing family spending on goods and services.
It also shows how a basic income for all Canadians could have a similar payoff, says the analysis, sponsored by UBI Works, a new non-profit initiative led by CEOs from across the country to raise public awareness.
“We believe that basic income is a key pillar in a more human-centred capitalism which I think is going to be needed for us to prosper in the next 50 years with increased automation, globalization and precarious employment,” said Floyd Marinescu, CEO of C4Media Inc.
“We think basic income is an economic issue as much as it is a social issue and that story also needs to be told,” he added.
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