Costing a National Guaranteed Basic Income Using the Ontario Basic Income Model

Get the report
Costing a National Guaranteed Basic Income Using the Ontario Basic Income Model.pdf

Get the data
Costing a National Guaranteed Basic Income Using the Ontario Basic Income Model.PPT

Summary
The total annual estimated gross cost of the defined GBI would range between $76.0 billion and $79.5 billion for the period 2018-2023. The guaranteed income for disability would range between $3.2 billion and $3.5 billion.

PBO forecasts that more than 7.5 million people would benefit from the basic cost of GBI. Thus, on a per capita basis, the annual cost would range between $9,421 and $10,169 for the period 2018-2023.

The actual federal support for low-income Canadians and vulnerable groups defined by our benchmark model is about $32.0 billion. If this amount were deducted from the total estimated GBI cost of $76.0 billion in 2018-2019, the net cost of a federally implemented GBI would be $44.0 billion. However, the GBI could take the form of a combined federal-provincial basic income system managed by an intergovernmental fiscal arrangement. This would replace some provincial transfers for low-income individuals and families, including many non-refundable and refundable tax credits, thereby reducing its net cost.

Related posts

  • 21 November 2017

    Approximately 3.2 million to 5.0 million Canadians have low income.

    In 2016, the Government committed to developing a poverty reduction strategy.  To support parliamentarians in their deliberations regarding this strategy, the Parliamentary Budget Officer initiated a census of all existing federal support and services to low income Canadians and vulnerable groups.

    Overall, we identified 75 federal initiatives that provide roughly $57 billion of financial support or services to people with low income and other vulnerable groups in 2017-18—55 programs with expenditures of $39.3 billion and 20 tax expenditures that provided $17.5 billion.

Infographics

Menu

About

Menu

Content

Contact Us

50 O'Connor Street, Suite 919
Ottawa, Ontario
K1A 0A9

Google not found location by address.