The Parliamentary Budget Office has suggested that a federal guaranteed basic income program in Canada could reduce poverty rates by up to 40%. An average family in the lowest income bracket would receive about $6,100 in annual disposable income, although higher earners may see reductions in income due to tax changes. While the total cost of the program could reach $107 billion by 2025, the net cost may be only $3.6 billion to $5 billion, considering cuts to existing social supports. The report differentiates between nuclear and economic family definitions, finding greater poverty reduction under the latter.
The PBO's report indicates that implementing a federally guaranteed basic income could potentially reduce Canada's poverty rates by as much as 40 percent.
Based on a model that considers all relations living together, implementing a federal basic income program could significantly enhance disposable income for the lowest earning families.
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