October 6, 2019
As our economy changes through globalization, and massive increases in automation, an ample basic income (BI) will ensure that no one is left behind. A new study by the organization UBIworks shows once again that basic incomes are good for the economy and for our society. By examining the Canada Child Benefit (CCB), a basic income which is offered to Canadian families, research has found that for every dollar the federal government spends almost 2 dollars in economic activity is generated. Costing an annual amount of $24 billion in 2017-18, the report found that CCB produced over $46 billion in economic activity, which worked out to approximately $139 billion in three years.
The report also found that in CCB supports nearly half a million jobs annually and lifts 588,000 children out of poverty.