With the current surge in inflation, the cost of living is hitting harder than ever for many. It goes without saying that Canadians are feeling the squeeze as prices continue to climb. But there are certain financial programs that could make these tough times somewhat easier, and one bill in particular could mean a livable basic income for Canadians.

The second reading of Canada’s Bill S-233 took place earlier this year with hopes of proposing a national framework for guaranteed livable basic income (GLBI) to millions of Canadians. On October 17, 2023, the Standing Senate Committee on National Finance began to study Bill S-233, which remains under consideration right now.

Once the study of Bill S-233 is complete, committee members and senators across Canada will have the opportunity to vote and send the bill to the House of Commons, where it could become law following review.

“Faced with increasing economic uncertainty, Canadians rightly expect their governments to both help individuals make ends meet and treat public money with care. We introduced Bill S- 233 and Bill C-223 because leaving Canadians in poverty costs at least $80 billion per year,” said Ontario Senator Kim Pate.