Basic income will reduce poverty, but require more taxes, spending cuts: Study – HalifaxSUCHI News

A guaranteed basic income in Canada would help reduce poverty, but could also jeopardize the financial stability and labor supply of some provinces, a new study published Thursday said.

Providing people with monthly checks will ensure that everyone has enough money to cover their essential needs, including food, housing and clothing, reports the Atlantic Province Economic Council, a Halifax-based economic think tank.

The study found that income support would reduce inequality, establish a sense of financial security and encourage savings.Yet a basic income program – whether need-based or universal, paying high income earners through taxes would be more complicated than it […]

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