We would like to get your thoughts on the proposal of a Universal Basic Income (UBI) in the United Kingdom, that would be available to all, without means testing or qualifying factors.
What is Universal Basic Income?
Put simply, UBI is an income that would be paid to every citizen for life that would allow them to live without 'having' to work or worry about paying bills. Unlike state benefits that are means tested, and do not provide a comfortable means to live, UBI would allow people to live without worrying about basic bills and the 'need' to work.
Everyone would receive UBI, and their employment would add to their existing income meaning those who choose to work will earn more if they want to.
How Would This Be Advantageous?
This would have a positive effect for those with factors affecting their ability to work, such as disability, lack of skills, single parents etc by removing the 'need' to find a job and being held back or at a disadvantage if they can not.
In the current climate of advancing technology and AI playing a bigger role in society and the workplace, many existing job roles are under threat from the gradual shift of societal improvement in technology and the benefits it brings.
Many citizens would have more free time if they could rely-on or supplement their income with UBI. Charities and community organizations could potentially benefit from those within the community being able to commit their time to causes they care about without worrying about their income being affected.
Parents could work part-time and spend more time with their children and family to enrich their development.
Local businesses could potentially benefit from a greater footfall of citizens throughout the week, being able to visit and spend money when normally at work and not having disposable income to spend.
How Would It Be Funded?
Ultimately through taxes, and bigger taxes on companies operating within the UK. But if companies are taxed more, and employees are receiving UBI, they could pay lower wages.
What Are YOUR Thoughts?
Please let us know your thoughts on the proposal for UBI by using the form below and we will pass this onto the relevant parties for discussion.