With the advancement in technology, we will inevitably reach the point where there would be more unemployed than employed people. Researchers, economists and technologists have indicated, almost unanimously that the only way to avoid the social unrest resulting from such high levels of unemployment is the implementation of "universal basic income".

Please note that during COVID-19, we effectively had a very poor implementation of UBI which proved to be a disaster from an inflation perspective for various reasons, the most prominent of which is that the "free money" was not combined with high productivity and lower prices.

The basic objections against UBI are:

(1) It's too expensive

(2) People will stop working

(3) It's never going to happen

8 years ago, Rutger Bregman attempted to debunk these objections in his Ted talk:https://www.youtube.com/watch?v=aIL_Y9g7Tg0

Assume we are in 2040 and you are a senior consultant who was hired by the Canadian federal minister of finance to advise him about how to fund the UBI that was put into law (like universal healthcare in Canada) in the latest parliament vote and will be effective January 1st, 2042. As a financial professional what advice would you give the minister of finance?