It would cost an extra $15 billion a year to introduce a well-designed basic income guarantee in Canada, a new Northern Policy Institute report suggests.

It’s money that would be well spent, Prof. Evelyn Forget said in her report, “Do We Still Need a Basic Income Guarantee in Canada?”, published by the Northern Ontario think tank.

“The key is to find the right way to integrate the B.I.G (basic income guarantee) into all of the existing social programs that exist in the country,” Forget said in a release. “Now is the time to address, head-on, the challenges and trade-offs that are necessary to create a universal B.I.G. that can meet the needs of Canadians in the 21st century.

“The challenges are real, but so too are the costs of doing nothing.”