Poverty costs Ontario up to $33B annually, new report says | CBC News
The study,
entitled The Cost of Poverty in Ontario, examines the relationship
between poverty, poor health, the justice system and lost
productivity. It makes the economic case that investing in people by
reducing poverty is not only socially responsible but financially sound.
entitled The Cost of Poverty in Ontario, examines the relationship
between poverty, poor health, the justice system and lost
productivity. It makes the economic case that investing in people by
reducing poverty is not only socially responsible but financially sound.
The
loss of what’s known as “opportunity income” accounts for the largest
chunk of the cost of poverty — $19.4 to $25 billion — followed by health
care with $3.9 billion.
Michael
Maidment, chair of the Feed Ontario board of directors, says
opportunity income refers to the loss of personal revenue when people
are unemployed or underemployed, along with the resulting loss in tax
revenue.