This report outlines a proposal for a guaranteed basic income (GBI) for Prince Edward Island (PEI) residents aged 18 to 64.
While supporting the objectives of Canada’s First Poverty Reduction Strategy, we estimate that this proposed GBI would reduce the poverty rate for Islanders aged 18 to 64 from almost 10% to nearly 2%, and ensure that no Islander lives in deep poverty (i.e., with income below 75% of the official poverty line). |
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A basic income (BI) is a payment sent to individuals from the government that ensures everyone can meet their basic needs and live with dignity and respect.
Universal Basic Income (UBI) can also describe a basic income that is available to everyone but is only delivered to those whose income falls below a defined level. |
Available to everyone when needed.
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Subject only to residency and income, regardless of work and relationship status.
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To live in dignity and security. Enough to achieve physical, mental and social well-being and to participate fully in the community. Enhance for individuals with particular needs and vulnerabilities. Index to the cost of living.
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Payable to individuals to be used at their sole discretion. Free of stigma and oversight.
Portable to ensure free movement within Canada. |
Not a replacement for supports and services for individuals with particular needs & vulnerabilities. Not a replacement for livable minimum wage legislation or any other labour rights, laws and regulations. Leave none worse off as a result of receiving basic income.
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Delivered monthly or bi-weekly. Responsive to changing circumstances.
Gradually reduced as income increases. |