Advertisement
Some governments issue universal basic income to their citizens. Does Canada? Learn more about UBI in the MoneySense Glossary.
Universal basic income (UBI)—also known as basic income guarantee, basic living stipend, guaranteed annual income or a universal income security program—is a government program that would give all adult citizens in a given jurisdiction an agreed-upon monthly or yearly sum of money. The idea is to provide security to the recipients, help alleviate poverty and reduce the strain on social programs.
Several countries have tested UBI, including Canada, Brazil, Kenya, Germany and Finland. Finland, for example, gave participants 560 euros ($804 CAD) per month. The support behind a universal basic income has grown but so have arguments against it.
Example: “Finland ran a year-long UBI program from 2017 to 2018.”
Share this article Share on Facebook Share on Twitter Share on Linkedin Share on Reddit Share on Email
Should you be paid as a power of attorney? Learn about the compensation rules in Ontario and how to...
Inflation is down, wages are up. But the economic recovery has been uneven, with “two contradictory trends” shaping Canadians’...
Parents, here are the CCB payment dates for 2024 and 2025, along with how much you can expect to...
Here’s how Canada’s retirement pension plan works, who’s eligible for CPP, when you can start receiving CPP, and CPP...
Canadians have reporting requirements for foreign assets, income and tax paid. Here’s how to claim each of these on...
If you are struggling with the higher cost of living in Canada and you need more income, you could...
A Certified Financial Planner provides perspective on the TFSA vs. RRSP question for a couple in their late 50s...
Driving for Uber or writing on Fiverr? Here’s what you need to know about filing your taxes.
How high inflation affects investments, and what you can do to minimize the impact on your retirement savings.
