Basic incomes will reduce poverty but require higher taxes and spending cuts: study – Halifax Pi News

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Guaranteed basic income in Canada will help alleviate poverty, but may jeopardize the financial stability and labor supply of some provinces, according to a new study released Thursday.

The report of the Atlantic County Economic Council, Halifax-based Economic Think Tank, said that issuing monthly checks to people would ensure that everyone has enough money to meet basic needs, including food, housing and clothing.The study found that income support reduces inequality, establishes a sense of financial security and promotes savings.Yet another basic income plan – whether demand-based or global – is more complex than what appears to be taxable for […]

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