Study after study shows that Basic Income has positive impacts for individuals, families, communities, and the economy. We can afford to eradicate poverty and income insecurity in Canada, and transform not just our economy, but our country.
BasicIncome can be a sustainable investment that grows Canada’s economy and creates jobs for Canadians across the country, while ending poverty and growing the middle class.
A report by the Canadian Centre for Economic Analysis shows us how: UBIWorks.ca/groweconomy
It would be an essential investment in Canadians and our economy
How Would Basic Income Help Canada?
1. Basic Income can grow the economy and create jobs.
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.
- Basic Income could grow our economy $80 billion/year.
- It could concurrently generate $400 billion in additional GDP within 5 years — or up to $2 trillion in 25 years.
- Basic Income could add nearly 600,000 full-time equivalent within 5 years — or over 900,000 jobs in 25 years.
2. Basic Income can be good for business.
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 double all Canadian venture capital investments a year.
Basic Income could add $32 billion/year on average in gross operating surplus (GOS) to Canada’s businesses within 5 years — as much as the annual profits of our 3 biggest banks combined.GOS could grow up to $745 billion in 25 years.Basic Income could increase private capital investments (PCI) $15 billion/year on average within 5 years.PCI could grow up to $336 billion in 25 years.
3. Basic Income is a raise for working Canadians.
Economic activity from Basic Income would cause businesses to hire, spending up to $32 billion a year in total wages— as much as the profits of our top 3 banks.
- Basic Income could grow aggregate wages 2.6% in year 5 — or $32 billion a year on average over 5 years. Aggregate wages could grow up to $621 billion in 25 years.
- 1.7M families earning between $10-19K from work could see their total income double (+114%).
- 3.3M families earning between $20-29K from work could see their total income increase +34% on average.
- Canadians earning up to $109,000/year could see their disposable income either increase — or decrease no more than 1.1%
- Basic Income could increase disposable income $122 billion in 1 year for the bottom 60% of Canadians by income.
4. Basic Income can be a self-sustaining investment.
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.
- The cost of Basic Income as a percentage of GDP could shrink over time, despite covering more Canadians, since economic growth from the program will increase faster than cost.
- Basic Income could generate $22 billion a year in new government revenues.
- It could add $109 billion in additional government revenues within 5 years — or up to $514 billion in 25 years.
- Basic income can be funded with minimal tax increases, by using debt that can be paid down with new tax revenues — while growing the economy and raising incomes of most Canadians.
5. All while ending poverty and growing the middle class.
Basic Income could grow the economy sustainably while lifting 3.2 million families out of poverty and giving a raise to most Canadians.
- 3.2M families lifted out of poverty — ending poverty.
- 129,000 single-parent families lifted out of poverty — 85% of which are female-led.
- 2.3M families in the lowest income bracket ($0-9K) could see their income at least triple.
Tell your MP & Trudeau: Basic income will grow the economy
See how Basic Income benefits YOUR local economy
