A basic income program will disincentivize work and may not alleviate poverty.
old age security
All the disposable income of Canada’s top earners—those earning $250,000 or more annually—would fund only 25 per cent of the GAI.
As the baby boomers continue to retire, the proportion of working Canadians will also decline.
The one-time payment to seniors will cost an estimated $2.5 billion.
By 2047, the costs of OAS and GIS will increase by an estimated 47 per cent.
The Trudeau government’s policy reversal will cost an estimated additional $10.4 billion in 2030.
Health-care costs are expected to increase by 57 per cent by 2045.