TOOL · GROSS COST

How much would a basic income cost in Solomon Islands?

Calculate the gross annual cost of paying a monthly amount to the country’s adult and child population.

Country

Adult population 501,099child population 298,906year 2023World Bank WDI

Monthly amount per adult

Monthly amount per child

GROSS ANNUAL COST

6,245 million

in SBDSBD 6,245,299,200

Equal to 49.5% of reference GDP

Population covered: 800,005 people

Adults: 501,099 × SBD 800 × 12 = SBD 4,810,550,400

Children: 298,906 × SBD 400 × 12 = SBD 1,434,748,800

SBD 4,810,550,400 + SBD 1,434,748,800 = SBD 6,245,299,200

Offset benefits, recovered tax, administrative savings and later economic effects are not deducted. This is a gross cost, not a net cost.

Sources and method

Population 2023 · World Bank WDI

GDP 2023 · $1,506,124,566 · World Bank WDI

Currency SBD · exchange rate 8.3756 SBD/USD (2023)

Converted cost $745,654,234 for the GDP share.