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Identification of Problem and Proposed Solution Poverty and Income inequality are one of the high causes that many citizens are caused to become homeless Well first of all before proposing an economic solution for this problem let me identify what poverty is Poverty is statistics Canadas low-income cut-offs LICOs represents the level at which people spend so great a proportion of their income on basic necessities such as food and rent that they are living under straightened circumstances The LICO varies by family size and community The economic solution that I am going to propose is that let more private corporations into the field and eliminate government out of citizens lives For example in Figure 1 it shows that in Canada about 16 of the population is under poverty In Ontario alone about 14 of the population is under poverty In order to reduce this statistics the barriers that need to be removed are taxes if income taxes are kept at a moderate level and the GST decreased This problem could be solved by a conservative government by imposing a conservative government more private organizations will be in the market which will cause a demand for employment the unemployment rate would decrease which would also lead to a lesser percentage of poverty Also the income is based on the job of the individual meaning that heshe gets rewarded for hisher work therefore there is no inequality occurring in a job 2001 Poverty Rates from the Census based on LICO Canada 162 or 4720485 people Ontario 144 or 1611505 people Toronto CMA 167 or 771535 people Toronto CMA includes all of Toronto Peel and York and parts of Durham and Halton Figure1 Economic Cost of implementation and of Not Implementing This economic policy will be similar to the Poverty Reduction Strategy PRS the PRS is The PRS defines poverty in a comprehensive way including income and non-income dimensions and empowerment Five thematic priorities
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