In Canada, many Canadians are facing challenges in meeting their basic necessities, such as food, clothing, and shelter, due to the rising cost of living and inflation.
To address this issue, Senator Kim Pate has introduced Bill S-233, known as the “Guaranteed Livable Basic Income Act” which aims to provide financial support to Canadians without requiring specific employment criteria to qualify for the benefit.
The goal is to ensure that every citizen can live with dignity and comfort, regardless of their employment status. The main objectives of this bill are to alleviate poverty, reduce economic inequality, and improve overall well-being, with a focus on protecting society’s most vulnerable.
Understanding the Guaranteed Basic Income
The Canadian government provides regular payments to low-income individuals and families based on their income through the Guaranteed Basic Income (GBI) program. This program is designed to help people live with dignity and comfort. Unlike welfare, GBI is unconditional, meaning people receive payments without having to meet specific criteria to qualify for the benefits.
During the COVID-19 pandemic, the need for a basic income program became evident. The Canada Emergency Response Benefit (CERB), which provided $2,000 per month to many Canadians, demonstrated that long-term income support is possible.
Who is Eligible for Guaranteed Basic Income?
According to Finance Minister Chrystia Freeland, if Bill S-233 is approved in the Senate, a national plan for the basic income program will be created. Under Bill S-233, anyone over the age of 17 would be eligible for this program, including temporary workers, permanent residents, and refugee claimants.
The framework for this plan will be established according to the livable income levels in each region, considering the cost of essential needs for a normal living. This plan will also ensure that eligibility is not based on education or employment and will establish national standards for social assistance and health.
Amount of Guaranteed Basic Income
The exact amounts and dates for the basic income payments have not been finalized yet. The Finance Minister will determine these amounts, likely considering each person’s location and income.
Receiving regular, unconditional payments can help individuals take control of their lives and make better choices. In 2017, Ontario started a basic income pilot program for three years, enrolling nearly 4,000 participants, but it was canceled early by the new government.
Conclusion
Throughout history, the idea of providing a basic income to all citizens, regardless of need, has been debated. However, Kevin Milligan, an economics professor at the University of British Columbia, believes that the chances of this becoming a policy are very low.
Bill S-233 is currently under review by the Senate. If passed, it will create a national plan to provide a guaranteed basic income to all Canadians over 17, including temporary workers, permanent residents, and refugees.
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After the Senate committee reviews and votes on the measure, it will go to the House of Commons for final approval. If it becomes law, millions of Canadians could receive basic income support.
Please stay tuned for more updates on the New Guaranteed Basic Income for Canadians.
Gideon Adler is a finance expert and journalist. He holds an MBA degree in Finance and a bachelor’s degree in Mass Communication. Gideon’s hobbies include playing baseball and chess.