Trudeau's Stimulus Package Could Fully Fund Basic Income Twice Over

In national news, Trudeau has announced his economic stimulus plan to help push Canada out of the current economic downturn. It amounts to a total of $82 billion, with $27 billion in direct spending and $55 billion in tax deferrals. The stimulus package includes increasing the HST rebate and Child-Care Benefit, reducing EI waiting times, and giving liquidity to banks and employers. But there is a simpler and more direct approach for Trudeau's package to stimulate the economy by implementing a Basic Income for all Canadians.

According to a 2018 Parliamentary Budget Office report, a Canada-wide Basic Income would cost $43 billion, which is a little more than half the cost of the total stimulus package. Under that plan, an individual would be guaranteed a minimum annual income of $16,989 and couples would be guaranteed a minimum $24,027 a year. By the PBO’s estimate, Trudeau could have implemented this amount of Basic Income and still have $39 billion left over for helping businesses and his bank buddies.

From another viewpoint, Income Campaign2000 and Basic Income Manitoba(BIM) have estimated the overall cost of a Basic Income of $16,989 for all adult Canadians. When other social assistance programs remain in place, it would cost $80 billion. If federal and provincial social assistance programs are transferred into Basic Income then the cost drops down to $23 billion. Trudeau could eliminate poverty for all Canadians with only the direct stimulus plan and still have $4 billion left over to buy himself a new winter jacket.

Meanwhile, south of the border, Trump has proposed implementing Andrew Yang's version of Basic Income with $1000 a month for every U.S. citizen.

What do you think?
Can the Federal Government afford Basic Income?
Does Trudeau's package stimulate liquidity in your assets?