It’s basically a basic income…basically…

Gerry Kavanaugh and the Importance of the 905 to the Canadian Economy The 905er Podcast

Gerry Kavanaugh is an entrepreneur and CEO of Formula Solutions in Burlington. He started his first business at the age of twenty after initially trying his hand at motorsports. Since then he has built two successful companies in the field of carbon fibre composites, collaborated in creating equipment that helped Canada's snowboarders win gold at the Vancouver Olympics, and is now focussed in the field of commercial aerospace with major contracts that will see him hiring seventy new staff over the next year. Gerry talks to us about his career and how working in the 905 has contributed to his success. If you like the what the 905er does, please consider supporting us at Patreon. For a week, for a month, for a year — it all helps cover our costs and helps us cover more of the stories you want to see. Thanks to: Nicholas Paul: sound editing Our fantastic Team 905er Patrons.
  1. Gerry Kavanaugh and the Importance of the 905 to the Canadian Economy
  2. 905 Round-up: Hotspots in Burlington, Go Transit in Hamilton, Confrontation in Thornhill
  3. 905 Round Up – Division at Burlington City Hall
  4. Flavio Volpe targets the future of the Car Industry with Project Arrow
  5. 10,000 Reasons For Better Cities

I missed the chance to promote the latest episode of The 905er yesterday. I got busy, my bad. This week we were talking about Hamilton’s basic income experiment, the previous provincial Liberal government instituted. It’s a great discussion on what actually happens under a universal basic income to those who are on it. I highly recommend you listen to it, as it’s more than relevant these days with the federal CERB program winding down.

What do people have to say?

How Universal Basic Income Will Save the Economy – By Max Fawcett

Why Canada is now debating a basic income model – By Aaron Burnett

Has guaranteed basic income’s time arrived? Canada may find out. – By Sarah Miller Llana

Has the time finally come for UBI?

As CERB winds down the question is how do we prevent wide spread catastrophe of an anemic economy and to stop the spread of COVID-19? New programs have been implemented to begin soon. The question is what happens though once these plans end?

We are in the beginning of a second wave ripping through the Canadian economy. Our economy hasn’t fully recovered from the initial lockdown in spring. Many Canadians are unemployed or employed in precarious jobs. These jobs are focused on the retail and hospitality sectors. All of which are under heavy pressure from health professionals to be closed until the curve flattens. Whether or not the provincial government will abide by their recommendation is yet to be seen. Regardless, hearing from these industries, it is apparent that consumer confidence has yet to return to the economy as a whole.

Canadians on a whole are timid to enter into restaurants and retail spaces for the time being. Should our COVID-19 numbers continue to increase, the pressure may mount to invoke a second lockdown as a draconian last ditch measure to save lives. There is no crystal ball to use here. There is no clear cut policy decision that outlines if A happens, then you must implement B.

Instead, we need tools which are flexible enough to handle the ups and downs of an economy tied to the COVID-19 case curve. The economy will recover, new systems of commerce and business models will emerge from this pandemic. Human beings are inventive and resourceful. I have no doubt about that. However, it doesn’t mean we don’t need some help. A mechanism to help cushion the changes that we are all experience. To help cushion the economic falls due to lock down.

This seems to be our economy for the foreseeable future. At least until a vaccine has been developed and administered widely enough. Coming up with patchwork policy options for each economic downturn is wildly inefficient and doesn’t work to build up confidence in our economy. It is time to seriously take a look at instituting a permanent basic income model for Canada. It might prove to be as important in dealing with COVID-19 as wearing a mask.

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