Quarterly Update: July 2016

The concept and development of a guaranteed annual income is once again gaining increasing international, national, provincial and municipal attention. The traction for some form of universal guaranteed annual income is spurred on by the increasing complexity of categorical income support programs, the growth of income tax expenditures and the increasing dependence on charitable programs for the provision of essential needs to ensure human survival. The limited success of these measures at reducing or eliminating the adverse effects of a low or no income, in combination with the increasingly capricious nature of employment, provide the context and rationale for the development of a universal assured income program. This short article provides a quick overview of the concept of basic income.