New cost analysis for an old idea cdnpoli
“The introduction of CERB has brought discussions of universal basic income to the forefront once again,” the PBO wrote in its report.
Comparatively, the federal government has so far paid $53.5 billion in direct CERB payments since mid-March to Canadians whose employment has been impacted by the coronavirus pandemic. to guide its calculations. The PBO included a supplemental $1.7 billion for guaranteed income for disabled Canadians into all of its projected scenarios.
At the low end of its range, the PBO estimates the cost of a guaranteed basic income could be $47.5 billion at a 50 per cent reduction rate. This means a person would have to earn $36,660 to no longer be eligible for basic income payments.In the highest cost model, more than 20 million Canadians would be eligible for basic income at a 15 per cent reduction rate, increasing program costs to $98 billion per year.
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