There has been a resurgence of political interest in Canada in the rather old idea of a universal basic income, sometimes called a guaranteed annual income. Essentially, a basic income is a “no strings attached” transfer from government to individuals or families that can be simpler to administer and provide more dignity to recipients than welfare payments and other forms of social assistance. This report simulates various potential basic income models to determine which ones do better at reducing poverty in a cost-effective way.