120 CANADIAN CEOs AND BUSINESS OWNERS REPRESENTING OVER $2.3B IN COMBINED ANNUAL REVENUES ARE IN SUPPORT OF A UNIVERSAL BASIC INCOME IN CANADA.
October 18, 2018
To: Premier Doug Ford and Minister Lisa MacLeod,
As Canadian business leaders, we urge the Ontario government to continue the Ontario basic income pilot. We see a guaranteed basic income as a business-friendly approach to address the increasing financial precarity of our citizens and revitalize the economy.
It is urgent that we let this pilot run because we see basic income as part of a solution that could help Canadians stay competitive in the face of:
- Accelerating technological job displacement due to advances in automation, software, and AI1
- Globalization of jobs which has gone beyond manufacturing and textiles to entry and mid-level information work2
- The ongoing transition of work to part time, contract, and gig-work3
- Winner takes all markets where companies such as Amazon are absorbing greater shares of economic activity4
These global trends are causing structural changes to the economy that are depressing wages,5 reducing the number of middle class jobs available to Canadians, and affecting a decline in entrepreneurship.6
In the News
Why WE should adopt a basic income
UBI improves lives, enhances freedom and is a matter of social justice, writes Guy Standing. Contrary to conventional wisdom, the case for BI does not rest on the assumption that robots and artificial intelligence will cause mass unemployment or that it would be a more efficient way of relieving poverty than present welfare systems (although it would).
“People with basic security tend to be more altruistic and empathetic, solidaristic and engaged in the community”
Business, the Modern Economy, and Basic Income, feat. Floyd Marinescu
How has the economy changed over the last generation, and what do we have to contend with that previous eras did not? Podcast host Jim Pugh and Floyd Marinescu, CEO of C4Media and co-author of the 100 Canadian CEO’s Letter on this site, discuss these issues and more on this episode, which focuses on basic income from the business perspective. The podcast is a walk-thru of many of the points in the CEO's letter to Doug Ford. Get the Podcast: source, itunes, player.fm
How Basic Income Could Create A Whole New Class Of Entrepreneurs
The evidence is mounting that unconditional cash payments could unleash a new wave of business innovation.
“Once the basic income came to Lindsay, we noticed that our customers were spending more money, and we have more people coming in day in and day out ”