Basic income would reduce poverty but require higher taxes and spending cuts: study – Halifax OCN News

A guaranteed basic income in Canada would help reduce poverty, but could also jeopardize fiscal sustainability and labor supply in some provinces, according to a new study released Thursday.

The report from the Atlantic Provinces Economic Council, a Halifax-based economic think tank, said providing people with a monthly check would ensure everyone has enough money to meet their basic needs, including food, housing and clothing.

Income support would reduce inequality, establish a sense of financial security and encourage savings, the study found.Still, a basic income program — whether needs-based or universal, with the amount paid to high-income earners clawed back through […]

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