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Ccpans pres cost of pov

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Presentation made at the Mini-conference on Poverty hosted by the Community Society to End Poverty-NS June 20, 2013

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Ccpans pres cost of pov

  1. 1. Christine Saulnier, PhD Nova Scotia Director, CCPA June 20, 2013 SHARING IDEAS/TAKING ACTION: TOWARDS A POVERTY REDUCTION STRATEGY FOR NOVA SCOTIA: A MINI- CONFERENCE/WORKSHOP by the COMMUNITY SOCIETY TO END POVERTY IN NOVA SCOTIA The Costs of Poverty: the Case for Social Investment
  2. 2. it makes no more sense to ask "what are the costs and benefits of preventing poverty?" than to ask "what are the costs and benefits of prohibiting torture?” Lars Osberg, Economist, Dalhousie University The Costs and Benefits of Anti-Poverty Policy (1990) The Moral Imperative
  3. 3. Moral Imperative Barriers
  4. 4. Total cost of poverty: $2.4 billion/yr Equivalent to 7% of Nova Scotia’s GDP =$2,600 per person Direct cost to government: $600 million dollars per year = 6.7% of the 2010/11 NS government budget Cost of Poverty in Nova Scotia
  5. 5. Moral, and Economic Imperatives to reduce and eliminate poverty Barriers Too complex No benefit to broader society Too expensive Right Thing Shared economic burden High quantifiable costs to government
  6. 6. Calculating the Economic Costs • considering costs that could potentially be eliminated, and • benefits that could potentially be realized • if the 20% of Nova Scotians with the lowest income were to have the same income as the second lowest 20%
  7. 7. Components of the Costs of Poverty 48% 12% 40% Health Care Crime Productivity Loss
  8. 8. From the Spirit Level http://www.equalitytrust.org.uk/resources/spirit-level-why-equality-better-everyone
  9. 9. Moral, Economic and Social Imperative to reduce and eliminate poverty Barriers
  10. 10. Public Investment Yields Strongest Impact Toby Sanger, CUPE; Sources: Informetrica Ltd, Centre for Spatial Economics, Finance Canada Budget 2009 (p. 240)
  11. 11. We all have a share interested In transforming our society, which includes eliminating poverty Thank you. www.policyalternatives.ca www.twitter.com/ccpans www.facebook.com/ccpans

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