This study by CANCEA (Canadian Centre for Economic Analysis) provides a first-ever look at the economic benefits and impacts of a national basic income program in Canada. “Basic Income could grow the economy and speed up Canada’s recovery, while ending poverty and growing the middle class”, concludes CANCEA. “Basic income can be good for the economy, for business, and for Canadians and our families”.
Study results show that a national basic income will lift 3.2 million Canadian families out of poverty, including 129,000 lone-parent families (the majority of whom are female-led). A basic income program could be funded with a minimal tax increase, by using debt that can be paid down with new tax revenues generated by the program.
The report demonstrates that Basic Income:
- can grow the economy and create jobs
- can be good for business
- is a raise for working Canadians
- can be designed as a self-sustaining investment
- and can do all this while ending poverty and growing the middle class.
Published By: UBI (Universal Basic Income) Works and CANCEA (Canadian Centre for Economic Analysis)
Publication Date: December, 2020
Click here to view highlights: Potential Economic Impacts and Reach of Basic Income Programs in Canada: Report Highlights – December 2020
To read the full report, and download a 1-page infographic summary, visit: ubiworks.ca/groweconomy
For related resources check out: