Universal Basic Income

[TeeDee]

The western world seems to be considering / musing the use of Universal Basic Income.

In the UK a trial of it will be taking place in Sunny Wales soon , https://www.bbc.co.uk/news/uk-wales-politics-57120354

Without this going into political territory I'm interested to find if the scheme was then rolled out nationwide what people would be doing with their UBI payment??

Important to note UBI is received regardless of any other benefits already received - as I understand it you would receive it as an adult regardless of you being in or out of work.


So if the scheme was to give everyone , lets say £500 extra a month what would you do with it in all likelihood?

And answers are without judgement - if you'd choose to spend it down the pub, on social activities , work less on reduced hours , invest , buy kit etc etc .

So £500 Per month would go where?

 

[MrEd]

Probably to work less hours so I can do more family and outdoors stuff - work life balance type thing

 

[oldtimer]

Probably to work less hours so I can do more family and outdoors stuff - work life balance type thing

When I was a primary school headteacher I saw far too many cases of dads, and some mums, spending far too long at work to earn money to provide extras for their children when what the kids needed was quality time with dad.

i have to admit to spending too much time at work myself but I did use holiday time well with my boys.

I welcome the UBI idea. It should free people from financial anxiety and the demeaning way "benefits" are administered at present . I feel no guilt or gratitude for having an old age pension.

 

[Paul_B]

I think if I was English and getting a state pension or indeed in Wales trialling the UBI I'd be grateful for being in a country that actually makes such payments.

I was watching a country in Africa, I believe Nigeria, where ex state employees who retire have to pay out several, high payments to an official just to get your pension signed off. Then you have to prove you're alive by presenting yourself at times to the inspector general incharge of pensions. No matter whether you're physically able to get about or not. Even then it's no guarantee you'll get your state pension. A desperately unfair system and society.

There's at least something good about England (and the other nations).

 

[TeeDee]

I think if I was English and getting a state pension or indeed in Wales trialling the UBI I'd be grateful for being in a country that actually makes such payments.

I was watching a country in Africa, I believe Nigeria, where ex state employees who retire have to pay out several, high payments to an official just to get your pension signed off. Then you have to prove you're alive by presenting yourself at times to the inspector general incharge of pensions. No matter whether you're physically able to get about or not. Even then it's no guarantee you'll get your state pension. A desperately unfair system and society.

There's at least something good about England (and the other nations).

You've not actually answered what you would use the money for.

 

[Great egret]

Less time for work, and i think i'd try to buy a house in Sweden and be there 50% of my time.

 

[bobnewboy]

I think I’d save it. Mainly because someone’s got to pay for it. So the government would have to increase direct or indirect taxation on everyone, or print a heck of a lot more money. Both of which would push prices upwards, certainly for essentials.

 

[Kadushu]

Probably invest it with the hope of retiring early.

 

[hudd4444]

Go and live in the Himalayas

 

[TeeDee]

I think I’d save it. Mainly because someone’s got to pay for it. So the government would have to increase direct or indirect taxation on everyone, or print a heck of a lot more money. Both of which would push prices upwards, certainly for essentials.

You've kind of pre-empted my initial concern and thoughts there Bob.

Unfortunately for me I can't quite see how this all works - in short trials Yes I'm sure it can and does in some extent ,But long term impacts and 'maths' are what sort of concern me.
But a lot of very high brow intelligentsia people seem to think this is a good idea and I wondered if I was just misunderstanding some element.

 

[Nice65]

Crack for me, £500 of free crack a month, wicked!

So we’ve got someone who wants to buy a house in Sweden, another who wants to go and live in the Himalayas, and another who would like to invest it for an earlier retirement. The fact is, in many cases, it’ll be spent on food, drugs, alcohol by people that just see free money and not an educated shove towards a better life or a means of getting there. I’m also concerned about the controlling aspect of free handouts, it makes people dependent and easy to control.

 

[TeeDee]

Crack for me, £500 of free crack a month, wicked!

Seek help.

 

[TeeDee]

Crack for me, £500 of free crack a month, wicked!

So we’ve got someone who wants to buy a house in Sweden, another who wants to go and live in the Himalayas, and another who would like to invest it for an earlier retirement. The fact is, in many cases, it’ll be spent on food, drugs, alcohol by people that just see free money and not an educated shove towards a better life or a means of getting there. I’m also concerned about the controlling aspect of free handouts, it makes people dependent and easy to control.

I've seen its been trialled in a few places on a short term basis. I don't know how one can objectively or subjectively judge if its been a positive addition to lives.

 

[Tengu]

I STILL dont know what a job is.

I have no hope for a state pension as I have few nationalinsurance payment, (Have to be married, Im told)

Guess who is not getting Dads estate?????

 

[Kadushu]

I actually read about various UBI trials a few weeks ago. I'd be wary of where the money's coming from or how much of a debt bubble it's creating, especially considering our current national debt and spending. I suspect in reality there would be a significant withdrawal of other benefits, so some would end up worse off. I'd also be wary of inflation effectively devaluing the UBI to the point that it's useless.

Which brings up another question: how much extra money would have virtually no impact on your life now? E.g. if you were given £5 per week for a year would it be noticeable by the end of the year?

 

[MrEd]

I STILL dont know what a job is.

I have no hope for a state pension as I have few nationalinsurance payment, (Have to be married, Im told)

Guess who is not getting Dads estate?????

you don’t have to be married to pay NI or get a state pension

 

[slowworm]

As has been said, save it to pay for the inevitable tax rises to cover it.

Or blow it on bee hives and fruit trees.

 

[TeeDee]

As has been said, save it to pay for the inevitable tax rises to cover it.

Or blow it on bee hives and fruit trees.

Honey Money

 

[TeeDee]

I STILL dont know what a job is.

I have no hope for a state pension as I have few nationalinsurance payment, (Have to be married, Im told)

Guess who is not getting Dads estate?????

I'm sure there are loads of jobs out there for a willing young Tengu is the Tengu wished to enjoy the whole ' job ' experience.

 

[bobnewboy]

The problem for the scheme in Wales is that there isn’t any detail in the report mentioned. So it is very difficult to be able to comment much further.

For example, if I may, if this is to be an idealised UBI, then everyone - regardless of their financial status - would get the money. So for the better-off, it would just be gravy on top of their usual spending. For those who really need it, it would be a useful bump in their income and might improve their or their children’s diet leading to better health. However, if the money is given with no requirement on how it might be spent, then it has the possibility to go very much the other way too. From what I’ve read of other schemes on the same trial basis the costs are huge, the upsides are marginal at best, and those are sometimes seen as a way to get rid of other benefits which are better targeted.