£10,000 proposed for everyone under 55

Zola.

http://www.bbc.com/news/business-43078920

I don't understand this article. If the government cant afford to fund the NHS and other emergency services, how does it propose its going to give everyone £10k ?

I am probably being thick here.

TCA

The suggestion is from a report by The Royal Society for the encouragement of the Arts, Manufactures and Commerce. The government isn't proposing anything.

Linton

The idea is that by providing a basic income for all citizens a lot of the bureaucracy in running a benefits system and also the problems of people in real poverty failing o get the help they need can be removed. The cost could be at least partly covered by the increase in economic activity which leads to higher tax revenues. The concept is being taken seriously in academic and political circles. It is being trialled in Finland and is under consideration elsewhere. Apparently Milton Friedman was in favour of a similar scheme.

See here and Google "universal wage".

DrEskimo

Good general overview of Universal Basic Income from this YouTube channel.

https://www.youtube.com/watch?v=kl39KHS07Xc

To answer your main question though, the idea is to re-allocate funds from other government spending, rather than introduce a basic income on top. I think most people think of it as a more simple and less beuracratic option to current welfare programmes.

It's also seen as a potential solution to the fact many jobs will be replaced by automation as technology improves in the coming decades.

Mchambers

:rotfl::rotfl:Yes please:rotfl::rotfl: !

Zola.

All seems a bit barmy to me, but I would gladly take the £ and invest it. Seems a step closer to communism. With all the offended people about these days with anything remotely controversial, we are maybe heading that way anyway :rotfl:

The goverment would probably raise the taxes up to high heaven ?

mark1959

Well i'm offended.:eek: I'm over 55.:(

DrEskimo

Zola. wrote: »

The goverment would probably raise the taxes up to high heaven ?

That would depend entirely on what type of universal programme is delivered.

To quote the document from Linton:

"A recurring criticism of UBI which emanates from both left- and right-wing opponents is that UBI is unaffordable. Van Parijs (2004) gives the lie to this statement. As he points out, the definition of UBI does not specify the level at which it is paid or how it interacts with the wider system of social security payments. It follows that under some specifications for example, 'abolish all existing benefits and redistribute the corresponding revenues in the form of an equal low benefit for all' UBI is clearly affordable, while under others such as 'keep all existing benefits and supplement them with an equal benefit for all citizens at a level sufficient for a single person to live comfortably' it is clearly not (ibid.: 18). In other words, the question 'is UBI affordable?' is underspecified: it depends upon the specifics of the scheme, as well as what is meant by 'affordable'."

chockydavid1983

Really interesting video but while the theory is great, the proof will be in how things pan out in reality with these trials. My main thought is that it would be difficult to get people to do certain jobs (which may not be applicable if there are significant enough advances in automation I guess).

TheLastMongoose

I think we already have a situation where some jobs are hard to fill. Care work for example. But we live in a society where EVERYTHING depends on how much you earn every month. A UBI could move us away from that and allow people to work for pleasure rather than for money. I think it is the future and I will vote for it given the opportunity, especially if it goes in hand with significantly cutting the benefits system which doesn't seem to work for people in need but delivers nicely for those willing to shamelessly abuse it.

Reaper

Apparently Universal credit is no good for people who are bad at budgeting

In theory, universal credit is an empowering idea, encouraging people to learn to budget for themselves, but for the more vulnerable tenants, someone with drug or alcohol issues or mental health problems, being given £600 at the start of the month and expecting them to make it last until the next month is just not realistic

https://www.theguardian.com/society/2017/dec/24/landlords-unwilling-to-rent-to-universal-credit-recipients

How do you think they will cope with being given £5000 twice a year instead of most benefits?