Budget officer pegs cost of basic income as calls for it grow due to COVID-19

OTTAWA — The parliamentary budget office says it could cost more than $98 billion to provide almost all Canadians with a basic income for six months beginning this fall. 

That figure is the upper range of the scenarios the budget watchdog was asked to research as part of a report out this morning.

The idea of providing a basic income to Canadians has taken on more steam as millions have watched their jobs or earnings evaporate in the COVID-19 pandemic, and the federal spending of about $174 billion to provide a financial floor for individuals and businesses.

The cost for the federal government could range between $47.5 billion and $98.1 billion for six months of a granted basic income beginning in October, depending on how much is clawed back as incomes rise.