With the current surge in inflation, the cost of living is hitting harder than ever for many. It goes without saying that Canadiens are feeling the squeeze as prices everywhere continue to climb. But there are certain financial programs that could make these tough times somewhat easier, and one bill in particular that could promiuse a livable basic income to Canadians.
The second reading of Canada’s Bill S-233 took place earlier this year with hopes of proposing a national framework for guaranteed livable basic income (GLBI) to millions of Canadians. On October 17, 2023, the Standing Senate Committee on National Finance studied Bill S-233, which is currently under consideration in committee in the Senate.
Once the Senate committee’s study of Bill S-233 is complete, committee members and Senators across Canada will have the opportunity to vote and send the bill to the House of Commons, wehere it could become law following review.
“Faced with increasing economic uncertainty, Canadians rightly expect their governments to both help individuals make ends meet and treat public money with care. We introduced Bill S- 233 and Bill C-223 because leaving Canadians in poverty costs at least $80 billion per year,” said Ontario Senator, the Honourable Kim Pate.
With the possibility of Bill S-233 turning into law, here’s everyting you need to know about the guaranteed livable basic income.
What is guaranteed livable basic income in Canada?
Bill S-233, which is also known as the “Guaranteed Livable Basic Income Act,” is sponsored by Senator Kim Pate and is strives to provide many Canadians with a livable basic income.
The bill’s core principle is simple: everyone should have access to a livable income. It aims to combat poverty, reduce income inequality, and boost overall well-being. Moreover, Bill S-233 seeks to protect the most vulnerable in society, emphasizing respect, dignity, and security for millions of Canadians, per the bill.
This legislation has been in the Senate’s pipeline for some years. It completed its first reading on December 16, 2021, followed by the second reading on April 18, 2023.
Recently, on October 17, 2023, the Standing Senate Committee on National Finance delved into the details. Notable experts, including former Ontario Premier Kathleen Wynne, Dr. Evelyn Forget, and Dr. Jiaying Zhao, weighed in on the matter.
As the Standing Senate Committee concludes its study of Bill S-233, Senators will have the opportunity to vote on its passage to the House of Commons. As mentioned, the potential transformation of this bill into law could mark a significant development in Canada’s social and economic landscape.
Who would be eligible for universal basic income in Canada?
If Bill S-233 becomes law, the Minister of Finance, currently Chrystia Freeland, would be tasked with creating a national framework for a guaranteed livable basic income program.
This program would cover anyone over 17, including temporary workers, permanent residents, and refugee claimants, per Bill-S233.
The framework would determine region-specific livable income levels, considering the cost of essential goods and services for a dignified life. It would also establish national standards for health and social support and ensure that education or labor market participation is not a requirement to qualify.
Importantly, Bill-S233 wouldn’t reduce existing services or benefits for health and disability support, meaning you would still receive any existing credits and benefits you may be receiving from the government of Canada.
How much would guaranteed livable basic income payments be?
As of now, no set payment figures or dates have been decided on. Bill S-233 would require Canada’s minister of finance to determine what the guaranteed livable basic income would amount to across Canada, and could depend on Canadian’s income and location.
This article’s cover image was used for illustrative purposes only.
Source: MTL Blog
