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StivePesley

Universal Income

49 posts in this topic

http://www.bbc.co.uk/news/uk-politics-36782832

If we have a hard Brexit and start to tightly control immigration I think there is a real case for looking at a system of Universal Income.

The main argument against it seems to be that it would be abused by immigrants (this seems to be why Switzerland rejected it recently). There are lots of positives though.

 

Discuss

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So does this mean you are finally willing to acknowledge the benefits of Brexit? 

Shang and StivePesley like this

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Thought that a significant proportion of inward migration was from outside of the EU and hence completely untouched by Brexit?

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In the future a universal income is going to be required due to automation in jobs.

At the minute? No thank you, it'll just increase inflation.

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We'd have to remove all benefits and pensions for this to truly work, but I do want it to happen. Fully automated luxury communism please!

WhiteHorseRam, reveldevil and StivePesley like this

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Agreed - it would replace all existing complex benefits. You could probably afford it based on the savings from that alone. So many positives

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11 minutes ago, StivePesley said:

Agreed - it would replace all existing complex benefits. You could probably afford it based on the savings from that alone. So many positives

How?. This is what I don't understand. I've seen this claim elsewhere but how the hell can removing the current system provide a decent universal income for EVERYBODY, regardless of other earnings they may have?.

Didn't someone in Ireland do some work on it and conclude that the basic income tax rate would have to be 45% to pay for it.

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I've not seen any studies, but that sounds high, and I don't know where they were setting the levels.

Because the current system of lots of different benefits is massively expensive to administer and police, by replacing it you could automatically redistribute the savings at a level of savings/divided by eligible people, on top of what is already spent on those benefits

Some (very) rough calculation on figures i found for the DWP welfare spending says total bill is £166 billion (inlcuding all the costs to adminster)

What's the population of the UK? 65 million? I make that £27k per year each

Obviously that is not exactly scientific and there would still need to be some costs in administering but it doesn't look especially unaffordable

 

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The worry with this is that it becomes helicopter money, very inflationary in a now unpredictable economic environment.

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13 minutes ago, StivePesley said:

I've not seen any studies, but that sounds high, and I don't know where they were setting the levels.

Because the current system of lots of different benefits is massively expensive to administer and police, by replacing it you could automatically redistribute the savings at a level of savings/divided by eligible people, on top of what is already spent on those benefits

Some (very) rough calculation on figures i found for the DWP welfare spending says total bill is £166 billion (inlcuding all the costs to adminster)

What's the population of the UK? 65 million? I make that £27k per year each

Obviously that is not exactly scientific and there would still need to be some costs in administering but it doesn't look especially unaffordable

 

166bn / 65m is roughly £2,500 each

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