Since the 1970s, Canada’s spending-to-GDP ratio has always been larger than the ideal range to maximize economic growth.
All the disposable income of Canada’s top earners—those earning $250,000 or more annually—would fund only 25 per cent of the GAI.
The auditor general noted there were 3.8 million more social insurance numbers for Canadians 20 years and older than actual people in that age group.
The subsidy will be available for businesses that can show a 30 per cent decline in revenue.
The old idea of a guaranteed annual income (GAI) recently received renewed attention thanks to Calgary mayor Naheed Nenshi and Edmonton mayor Don Iveson. Both mayors hope the new provincial government is sympathetic to the idea.
An idea that would fundamentally change the way governments provide income support has received renewed attention in Canada and around the world. The idea: replace the current complex tangle of government income support programs with a single cash transfer to individuals or families.