[Mark Henry]

The school of thought is if you give the homeless a basic income you get them off the street and it will cost you (the government) less in the long run.

This is mostly grandstanding by the liberal government. They need $3.2 billion in funding from the federal government, so it might be a nice sound bite for the extreme left, but it has a snowball's chance in hell of being implemented.
Couple that with the fact Ontario has no money for this program.

The majority Canadians do want the legitimate recipients to receive enough money for the basic needs of life. In theory it is a noble notion.

Be aware this comes because Ontario has a welfare systems that is pretty low paying.
Welfare in Ontario (Canada) was suppose to be for the disabled and single mothers. Also emergency money to get someone into housing, so they can find a job and get their life back on track.
Welfare was exploited for decades but now it has swung the opposite way to well below poverty level. Ontario is a workfare province, so unless you fall under an exception, you have to work or attend training for your money. If you're healthy you get about $600/month (right now that's $450USD/month) and have to work for the money or go into training.
We have a 7.1% unemployment rate so you can find a job PDQ if you are motivated.

Welfare here is a damn poor way to make a living. you are not allowed to own a house or car
The only real welfare abuse is single mothers that pop out babies for more money, but that's a whole other can of worms.