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knocker

Is UBI a good idea for the UK?

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Given a rising population and increasing use of technology it follows that there will be less jobs around in the future. This surely must mean a radical overhaul of social policy. Is Universal Basic Income the way to go?

Now a major western country is about to find out how a UBI might work in practice. Finland’s centre-right government was elected earlier this year promising a “new political culture of bold experiments”. It needs them because Finland has been in almost continual recession for three years: its principal industries of paper and pulp are in decline, and its Nokia phone business has fallen way behind competitiors. Unemployment reached a 15-year high this year, at almost 10 per cent. Finland is looking urgently for ways to transform its economy, and it believes the UBI could help.

It is planning to invest €20 billion in a two-year experiment in which 100,000 people will take part. There will be a variety of carefully monitored projects in cities and rural areas. The payments will vary from an all-in rate of about €800 a month to €500 with some existing benefits retained. In certain areas everyone will get the UBI to chart the effects on an economy when everyone can afford to exercise choice. In other areas up to 50 per cent will receive it.

http://www.fastcoexist.com/3052595/how-finlands-exciting-basic-income-experiment-will-work-and-what-we-can-learn-from-it

Ten Reasons to Support Basic Income

http://basicincome.org.uk/reasons-support-basic-income/

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I cant say im totally familiar with the concept but I think I would be great for pensioners esp those have contributed all their lives and often receive little in return and are pushed into poverty through no fault of their own.

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Interesting concept. Doesn't seem to be cover pensioners though unless I missed that bit. Rather for people who are doing volentry work or who are doing part time work which you aren't allowed to do if you're signing on.

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Not sure about the pensioner angle but the money would provide a financial cushion for anyone starting a business or trying to live by combining the tiny odd jobs on offer in the sharing economy: cooking, driving, mending, putting up shelves. It would replace unemployment pay and all the subsidies for low earners, removing the bureaucratic horror of signing in and out of the benefits system or of having to claim and amend tax credits for low-paid work. It would end the welfare trap, since any job you accepted, from giving a single haircut to two weeks’ gardening to three months as an IT consultant would mean extra money on top of your weekly allowance.

A little bit from the Adam Smith Institute

The ideal welfare system is a basic income

http://www.adamsmith.org/blog/welfare-pensions/the-ideal-welfare-system-is-a-basic-income/

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