A national guaranteed basic income (GBI) program would cost the Canadian government between $76 billion and $79.5 billion annually for the period of 2018 to 2023, according to a new report released today by the Parliamentary Budget Officer (PBO).

An estimated 7.5 million Canadians would benefit from the program — those who already use low-income supports at the federal level. Using the report’s benchmark analysis, the cost to support these vulnerable groups in 2017-18 was $32.9 billion. So, deducting that amount from the total GBI estimate in year one, nets out to around $43.1 billion.