Bill C-273 calls on the federal finance minister to assess a potential guaranteed annual income in Canada.
guaranteed income supplement
Borrowing costs could increase without interest rates changing if lenders believe Canada is becoming a bigger credit risk.
The fundamental idea is for government to ensure a minimum annual income for all Canadians.
The one-time payment to seniors will cost an estimated $2.5 billion.
The federal deficit this year will reach an estimated $184.2 billion.
The auditor general noted there were 3.8 million more social insurance numbers for Canadians 20 years and older than actual people in that age group.
The Trudeau government’s policy reversal will cost an estimated additional $10.4 billion in 2030.