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 $32.9 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 $43.1 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.
Chosen excerpts by Job Market Monitor. Read the whole story at Costing a National Guaranteed Basic Income Using the Ontario Basic Income Model
Universal Basic Income in Finland – It’s unrealistic to think that basic income will be implemented in this country says the pilot’s director
In the winter of 2015, the government, which is dominated by the right-leaning Centre Party, announced a formal study, run by Kela, to see if basic income was viable. The public adored the idea. In national polls, almost 70 percent of Finns supported it. Asked what level of income would be sufficient, on average they … Continue reading
The annual conference of the Basic Income Earth Network focused on implementation and shed light on a range of experiences worldwide, namely the “pilots” that are quoted in virtually every blog on the subject. On this point, the salience of UBI pilots doesn’t appear to be the technical questions they raise. Rather, their value probably … Continue reading
From Mongolia to Finland to India, we are seeing heightened interest in the idea of a universal basic income (UBI)—an unconditional cash grant given to every citizen, regardless of their employment status or wealth. The idea is controversial, receiving criticism from many quarters including Future Development. To sharpen the debate, it’s useful to distinguish three … Continue reading
Universal Basic Income in US – The Economic Security Project (ESP) commits $10 million over the next two years “to explore” it
The Economic Security Project (ESP)—a loose coalition of technologists, investors, and activists—announced on Dec. 8 it’s committing $10 million over the next two years “to explore how a ‘basic income’ could…ensure economic opportunity for all” in the US. More than 100 people, ranging from the head of top Silicon Valley startup fund Y Combinator to … Continue reading
Swiss voters rejected by a wide margin on Sunday a proposal to introduce a guaranteed basic income for everyone living in the wealthy country after an uneasy debate about the future of work at a time of increasing automation. Supporters had said introducing a monthly income of 2,500 Swiss francs ($2,563) per adult and 625 … Continue reading
Manitoba’s Mincome trial, which ran from 1975 to 1979, is being spoken of respectfully now because guaranteed income has so rarely been tested in a thoughtful way. Mincome was designed consciously as an experiment, applied in two theatres. In the city of Winnipeg, 1,187 households were randomly chosen to receive a “negative income tax,” and … Continue reading
Universal Basic Income – GiveDirectly, a charity that gives 6,000 Kenyans enough money to escape poverty for a decade
GiveDirectly, a charity that gives money directly to poor people in Kenya and Uganda, is launching a big new project: a basic income. A basic income — also called a universal basic income (UBI), guaranteed minimum income, citizens’ dividend, demogrant, etc. — is a regular payment to a group of people just for being alive. Normally, … Continue reading
Frans Kerver was working 12-hour days before the money started coming in. For nine years, the 53-year-old freelance copywriter living in Groningen, the Netherlands, would rise at 7 a.m. and fall asleep at 1 a.m. His wife and three kids rarely saw him.When Kerver began receiving a basic income last July, everything changed. Universal basic income … Continue reading
Many are now calling for a “universal basic income” (UBI)—where the state gives everyone enough to live on. This would put a floor under the class of people we’re calling the “precariat,” people for whom work doesn’t lead to increased financial security. It would free us from the bullshit, allowing everyone to benefit from automation, … Continue reading
Buried away in Ontario’s 2016 budget documents are unspecific plans for the Canadian government to start giving a guaranteed, unconditional salary away to a few people just for being alive. “The pilot project will test a growing view at home and abroad that a basic income could build on the success of minimum wage policies and increases in … Continue reading
Universal Basic Income gets all this attention and popularity, but I haven’t seen one model that’s even on the planet of financial feasibility. These things are utopian. Finland is conducting an experiment in giving every adult a check for €800 a month, which would require spending far more than what the government raises in taxes. Whatever … Continue reading