Guaranteed minimum income would value Ottawa $76 billion a year, budget watchdog says

Guaranteed minimum income would value Ottawa $76 billion a year, budget watchdog says

- in Economic

The parliamentary budget officer says the government would have to find about $43.One particular billion to cover the full expense of the program

OTTAWA — A federal expending watchdog says it could price federal coffers more than $76 billion 12 months to provide a national, guaranteed the bare minimum income similar to the one getting tested in Ontario.

The parliamentary spending budget office says the federal government will have to find about $43.1 zillion to cover the full cost of the program because Ottawa already spends about $32.9 billion a year in support to low-income Canadians.

A guaranteed bare minimum income often means different things to various people, but at it’s core it can be described as a new no-strings-attached benefit that governments produce to citizens instead of diverse targeted social benefits.

The finances office report released now estimates that annual monthly payments under a federal program to eligible individuals would add up to $16,989, while couples would get $24,027, before deductions for any profits earned.

More than 7.Your five million people would take pleasure in the measure, the report shows.

The federal Liberals have been lukewarm into the idea at a national place, arguing that the Canada Toddler Benefit, among other options, amounts to a guaranteed minimum earnings.

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