We recommend staying on this post to get complete details on the new Guaranteed Basic Income for Canadians. You could be eligible for payments.
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New Guaranteed Basic Income for Canadians
The recent spike in inflation has made the cost of living more challenging than ever, with rising prices affecting many Canadians. Senator Kim Pate’s bill, S-233, known as the “Guaranteed Livable Basic Income Act,” aims to provide a livable basic income to a significant number of Canadians.
The primary goal of this measure is to ensure a decent income for everyone. Its objectives include alleviating poverty, reducing economic disparity, and enhancing overall well-being. Additionally, Bill S-233 emphasizes security, respect, and dignity for millions of Canadians while aiming to protect the most vulnerable members of society.
For complete details on the new Guaranteed Basic Income for Canadians and eligibility requirements for this government aid, be sure to read this post.
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What is New Guaranteed Basic Income?
In Canada, the term “Guaranteed Basic Income (GBI)” is commonly used when discussing basic income. This system provides monthly payments to low-income families and individuals based on their income levels.
What distinguishes basic income from programs like welfare or income support is its unconditional nature. Simply put, it is a recurring payment made by the government to families and private citizens without any conditions.
The need for a basic income program became more evident after the COVID-19 pandemic. The Canada Emergency Response Benefit (CERB) provided millions of Canadians with $2,000 per month, demonstrating the feasibility of a long-term income support program.
New Guaranteed Basic Income Eligibility
If Bill S-233 becomes law, the responsibility for developing a national framework for a guaranteed basic income program will fall to the current Finance Minister, Chrystia Freeland.
According to Bill S-233, anyone over the age of 17 would be eligible for this program, including temporary workers, permanent residents, and refugee applicants.
The framework would determine livable income levels specific to each region by considering the cost of essential needs for a decent living. It would also ensure that eligibility is not based on education or employment and establish national standards for social assistance and health.
The Canadian government will continue to provide any existing credits and benefits you currently receive, as Bill S-233 will not reduce current health and disability support programs or benefits.
New Guaranteed Basic Income Amount
Currently, there are no finalized payment amounts or dates for the guaranteed livable basic income in Canada. According to Bill S-233, the Minister of Finance would determine the amounts, potentially based on each individual’s location and income.
Having access to unconditional money empowers individuals to take control of their lives, make better choices, and achieve improved outcomes. In 2017, Ontario launched a pilot program for basic income, intended to run for three years and enrolling nearly 4,000 participants. However, the program was canceled early when Doug Ford’s Progressive Conservative administration took office.
Final Discussion
Since ancient times, people have believed that all residents should receive a monthly guaranteed income, regardless of their level of need. However, Kevin Milligan, an economics professor at the University of British Columbia who specializes in government social expenditures, has stated that the likelihood of a guaranteed income becoming actual policy is “very close to zero.”
Ontario Senator Kim Pate’s Bill S-233, currently under review by the Senate, aims to establish a national framework to provide a “guaranteed livable basic income” to all Canadians over the age of 17, including temporary employees, permanent residents, and refugees.
After careful consideration, senators from across Canada and members of the Senate committee studying Measure S-233 will vote to send the measure to the House of Commons, where it may be passed into law. If approved, it is anticipated that millions of Canadians will receive basic income through this assistance program.
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