universal basic income
Guardian report reflects hopes of the Finnish social security agency that data from UBI trial - where guaranteed, unconditional income is paid in advance - will show unintended benefits through a positive impact on anxiety, prescription drug consumption, and doctor visits….
A report from the Royal Society for the encouragement of Arts, Manufactures and Commerce - Pathways to Universal Basic Income proposes -
the creation of a Universal Basic Opportunity Fund (UBOF): an effort to reimagine how society supports people to live meaningful, contributory lives. Its premise is simple: fund every citizen under the age of 55 with a £5,000 opportunity dividend for up to two years, taken at a time of their choosing over the course of a decade. The fund would initially last for ten years, with dependent children also eligible for the payment in the year a parent, or both, werereceiving it.
So you get £10,000 over two years but have to relinquish any state benefits…
The BBC reports -
As the dividends would replace payments such as Child Benefit, Tax Credits and Jobseeker’s Allowance, the savings for the government could also be ploughed into the fund.
There’s a session on basic income at the LSE next week as part of their Beveridge celebrations.
The are copies of the slides from the LSE thing on the website, including Gareth’s, which make for interesting reading. I particularly like that the fella from the Adam Smith Institutes suggestion that HMRC would be good delivering a negative income tax because of their experience delivering tax credits! Cos they were ace at that…
We wouldn’t have UC if someone somewhere wasn’t convinced that monthly had worked with Tax Credits!
Couple of new reports out today on universal basic income ...
- from the Centre for Social Justice: Universal Basic Income: An Effective Policy for Poverty Reduction?
- from the RSA: Realising basic income experiments in the UK
The results are in from the Finnish jury:
Europe’s first national government-backed experiment in giving citizens free cash failed to encourage its participants to work more as organisers had hoped – but it did improve their wellbeing.
The basic income experiment did not increase the employment level of the participants in the first year of the experiment. However, at the end of the experiment the recipients of a basic income perceived their wellbeing as being better than did those in the control group.
Another report - from Progressive Economy Forum for Shadow Chancellor John McDonnell - recommends pilot of universal basic income across the UK -