Basic Income could grow Canada’s economy $80 billion a year— more than Canada’s tourism and hospitality industries combined — and create nearly 600,000 jobs in 5 years.
Putting money in Canadians’ hands lets them spend it in their local economies, which could cause private capital investments to increase up to $15 billion a year— more than all Canadian venture capital investments a year.
Economic activity from Basic Income would cause businesses to hire more, spending up to $32 billion a year in total wages— as much as the profits of our top 3 banks.
Basic Income could grow the economy more than it costs in the long term, making this a sustainable investment over time. It could generate $22 billion a year in new government revenues from new economic activity— as much as all EI Premiums paid by employees and employers.
Basic Income could grow the economy sustainably while lifting 3.2 million families out of poverty and giving a raise to most Canadians.
This is by far the most comprehensive report I have seen on this issue. Covid-19 has exposed the fragility of our society.
UBI at the minimum should be explored as a potential solution and this report provides the foundation for an informed debate.
Inequality makes our economy less resilient, which
is why a robust and complete recovery must leave no one behind
This landmark report substantially advances the
discussion on a Universal Basic Income in Canada, and puts it front and centre in the policy agenda for Canada's spring budget and the broader process of rebuilding from the pandemic.
UBI at the minimum should be explored as a potential solution and this report provides the foundation for an informed debate.
Too much of the discussion surrounding Basic Income focuses on cost alone.
This analysis by CANCEA demonstrates that the economic return can be actually much grater than the cost..
That is why CANCEA's study of potential economic impacts means so much and is of such love.
Now Canadians can show that Basic Income will grow the economy.
They have the data to prove it.
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