Universal Basic Income Could Cost Between $132B and $464B Annually, Report Finds

People at a shopping centre in Laval, Que., on June 19, 2020. As calls for a universal basic income have ramped up amid the pandemic, a new report outlines how much it could cost. Ryan Remiorz/The Canadian Press

Adopting a universal guaranteed basic income program in Canada could cost taxpayers between $131.9 billion and $464.5 billion per year, concludes a new report released today by the Fraser Institute.

The study comes as anticipation builds ahead of the throne speech on Sept. 23, which is rumoured will outline a major ramp-up in government spending on several initiatives including a larger social safety net—potentially including a guaranteed basic income.