Basic Income Could Virtually Eliminate Poverty in the United Kingdom at the Cost of £67 Billion Per Year or 3.4% of GDP
A new Georgetown University study has found that the cost of a universal basic income (UBI) large enough to virtually eliminate poverty in the United Kingdom would amount to just £67 billion per year or 3.4% of gross domestic product (GDP).
The study, coauthored by Karl Widerquist (of Georgetown University) in Qatar and Georg Arendt (independent researcher) is entitled “The Cost of Basic Income in the United Kingdom: A Microsimulation Analysis.” It uses data from the 2014/15 UK Family […]
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