Unconditional basic income is a bad idea
Almost 50 years ago, a Canadian Senate report declared that a basic income “is an idea whose time has come.” Ever since, the idea resurfaces every so often, with support that spans the political spectrum.
Most recently, a Parliamentary Budget Office (PBO) report reinvigorated the debate by estimating the cost of a particular version of a basic income program. Proponents, including columnist Andrew Coyne, go so far as to claim a basic income will end poverty.
In our view, however, an unconditional basic income is a bad idea whose time should never come.
In theory, a basic income would replace the existing web of income-support programs (welfare, the GST tax credit, Old Age Security, employment insurance, etc.) with a single simple program that provides a cash transfer to Canadians.