House sales, pension contributions and the income tax personal allowance: If a future Chancellor John McDonnell wanted a £48-a-week basic income, could these tax reliefs be under threat?

House sales, pension contributions and the income tax personal allowance: If a future Chancellor John McDonnell wanted a £48-a-week basic income, could these tax reliefs be under threat?

Think of Universal Basic Income like a form of pocket money paid out to individuals from the state. One proposal is for a £48 weekly allowance for all, regardless of means How does £48 a week for everyone in the country, rich or poor, sound to you?

The idea of the state paying its citizens pocket money might sound far-fetched, but it’s a possibility under a Labour Government if it wins the next election.

The scheme is known as Universal Basic Income, and is a proposal gaining increasing popularity among both those on the left and tech entrepreneurs in Silicon Valley.The […]

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