£1,600 a month? That's more than I get now.
What is that, like c. 24k? Just under the average salary in the UK.
£1,600 a month? That's more than I get now.
Absolute Tory nonsense. The number of people that would choose not to work for £1600 a month when they could continue to work, continue to get £1600 a month and be comfortable with disposable income will be small enough not to concern yourself with.For the majority it would be not work, if that was the option in my opinion.
I'm an economy noob, but if everyone got UBI, wouldn't everything just cost more?
What about supply/demand?Only if the government had to print money to pay for it.
What? £1600 a month free of tax isn't enough to live on?what do you think the answer would be if people had to chose between work or 1600 a month? (even though that isn't the choice)
I would guess most people would chose to work
If you're like 60 with your house paid off it would be a good chance to retire early, but other than that it's not enough money to live on
What is that, like c. 24k? Just under the average salary in the UK.
FixedYep, UK Civil Service for you. Underpaid and overworked
For the majority it's more than they get now. But I'd say most would use it as a top up and continue workinfI would've thought a few would take the offer but for the majority it's simply not enough money to live off
It’s not a simple as that. More people having money in this country and spending money creates jobs, wealth and security. A strong economy can strengthen the currency which makes importing cheaper.What about supply/demand?
I'm an economy noob, but if everyone got UBI, wouldn't everything just cost more?
Absolute Tory nonsense. The number of people that would choose not to work for £1600 a month when they could continue to work, continue to get £1600 a month and be comfortable with disposable income will be small enough not to concern yourself with.
Those that do, let them worry about their own situation. You’re getting your money too.
I would've thought a few would take the offer but for the majority it's simply not enough money to live off
I don't think it would work to be honest.
For £1600 after tax it would be a big drop off in salary for me but I'd still consider it. Maybe downsize my house, go mortgage free and just enjoy the free time.
I'm 33 and would likely retire at 40 if this came in............... I hope it does!!!!!
You'd lose masses of the workforce. Also, what incentive would kids have to learn skills and get in to employment if they were going to get enough money to live anyway?
Why do people think it’s either UBI or work?
The point is that it’s both.
It's a separate £1.6k tax free amount that has nothing to do with your salary. So whatever you earn, you earn + an additional £1.6k per month.I'm confused; does UBI top you up to £1.6k if you earn less that that? i.e. say I get £1.4k month, would UBI top me up to £1.6k, so I'd get £200 untaxed?
I think it's generated from increasing corporation tax, but not sure.I just don’t get how the country could afford this - it would be like a massive increase in (non-means tested) benefits spending.
I understand even less how it could be used as a solution to jobs going due to AI - jobs going would mean less taxes being paid which means less money to spend. The benefits of AI would be for companies / shareholders, many of which won’t need to be based in the UK and therefore won’t pay tax here, or not much.
What? £1600 a month free of tax isn't enough to live on?
It's a separate £1.6k tax free amount that has nothing to do with your salary. So whatever you earn, you earn + an additional £1.6k per month.
It’s barely below the average salary for the UK. Surely every person earning the same or below would take it, which would be almost half the country.
What? £1600 a month free of tax isn't enough to live on?
That’s my utilities sorted and nothing moreWhat? £1600 a month free of tax isn't enough to live on?
What do they pay out in esa/dla/universal credit etc etc. That will all stop. So we should only be considering net cost.Is this really affordable for everyone?
I don't know how much money goes into means testing and all the infrastructure behind it, but surely its not ~47 million people getting £1.6k * 12 = £902bn a year.
I based that on everyone in the UK aged 18 or over getting it (https://www.ethnicity-facts-figures...d Wales (17.3 million,aged 60 years and over) - is that correct?
My rent is more than that.
Not everyone lives in London?That’s my utilities sorted and nothing more
That’s my utilities sorted and nothing more
Yep..its more than my wife earns. She could easily drop down to a 3 day week for example and have a lot better work life balanceWhat? £1600 a month free of tax isn't enough to live on?
It's frustrating, some people even write that they understand and then proceed as if they don't anyway.Why do people think it’s either UBI or work?
The point is that it’s both.
I don't think it would work to be honest.
Well, if everyone could afford, let's say, a rental apartment then the owner would just push up the price, no?No. Why would it?
Same. I mentioned my wife dropping days a few posts up but I don't see anyway I'd continue a 5 day week either. Why would I?Seeing as we’re getting by ok on our current income, an extra £3200 per month for me/my wife would mean we have so much money we literally wouldn’t know what to do with it all. I’m generally positive about UBI but that seems intuitively a bit wrong.
When we have billionaires jetting in to space for shits and giggles, I don’t think the masses would have much to feel guilty about over an extra £1600.Seeing as we’re getting by ok on our current income, an extra £3200 per month for me/my wife would mean we have so much money we literally wouldn’t know what to do with it all. I’m generally positive about UBI but that seems intuitively a bit wrong.
didn't realise wages were so shit in the UK now
I'm too used to Australia prices
It’s not a simple as that. More people having money in this country and spending money creates jobs, wealth and security. A strong economy can strengthen the currency which makes importing cheaper.
Security means confidence in the market, if a company can sell more it means they can buy in bulk and negotiate better deals which brings their wholesale costs down which can then be passed on to the consumer.