Tag: basic income

Brokerage firm Ambit Capital in a report released earlier this week downgraded India’s GDP growth forecast for the next six quarters.

According to the report, the cash crunch arising due to demonetisation is likely to bring down economic activity in the short term, with India’s GDP growth estimates for 2017-18 at 5.8 per cent as against 7.3 per cent projected earlier.

Talking to NDTV Profit, Saurabh Mukherjea, CEO, Institutional Equities, Ambit Capital, said the demonetisation has led to a structural change in the Indian economy which would bring the cost of capital in India to lowest in over a decade."The cost […]

Full Post at profit.ndtv.com

You’ve paid in for benefits through VAT, Car Tax, NI contributions It is your money you are claiming back when you claim Universal Credit benefits

With a rapidly disappearing jobs market, largely through automation, robotics, obsolescence and lean business practice, 9 million jobs are projected to have disappeared by 2026.

Even now, I have seen over the last 5 years, many of the ordinary jobs ‘out there’ have been lost and job seekers are now ‘de-skilling’ by applying for jobs well below their abilities and qualifications. Some jobs I have seen have already had 90+ people apply.This impacts down the jobs […]

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A technological dividend is a nice sounding term for the trend of rising automation and productivity meaning capital investment in technology supplants labor. In other words, we get far more stuff for the same amount of labor, or we need far less labor to do the same amount of stuff. This development could be great for society, but presents a number of problems.

For a case in point, consider manufacturing in the US since 1980. Manufacturing output since 1980 in the US has doubled. Manufacturing jobs in the US have decreased to about 60% of what they were in 1980. […]

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What if … the state provided a proper safety net for all of its citizens? Most people would agree that this is indeed the state’s role, yet the failings of the current system can be seen all around us. Think of those evicted from their homes for non-payment of rent or mortgage, those queuing at food banks and soup kitchens, those who wish to go out to work but cannot due to prohibitive childcare fees: the list goes on.

Although it is most definitely not a panacea for all of society’s ills, an unconditional/universal/citizen’s basic income/grant – call it what […]

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A basic income plan for P.E.I. would assistance from the federal government, says the province. (CBC) The time is ripe to start moving away from current welfare models and towards a basic income for Canadians, says former Conservative Senator Hugh Segal.

Former P.E.I. premier Robert Ghiz said in 2014 he supported trying a basic income on P.E.I., and the current government has told CBC News it still supports the idea. There is no evidence that a basic income is a disincentive to work, says Hugh Segal. (CBC) Segal has written a plan for a basic income pilot project for Ontario, […]

Full Post at www.cbc.ca

Malcolm Torry, director of the UK’s Citizen’s Income Trust (CIT) and co-secretary of BIEN, has prepared a report on implementing a citizen’s income (i.e. a basic income for UK citizens) for the Institute for Chartered Accountants of England and Wales (ICAEW). Malcolm Torry (picture: Citizen’s Income Trust) In a report written for ICAEW’s opinion column, its “ Outside Insights “ series, Torry develops four different proposals to implement a basic income guarantee wherein weekly cash grants are disbursed in equal amounts to all adult UK citizens. (As mentioned below, however, two of the proposals recommend that the government move […]

Full Post at basicincome.org

About 25 years ago, when internet emerged, I addressed an audience saying: “If newspapers [didn’t already] exist today” there is “no way investors or bankers would support the business-idea to collect news, print it on paper around midnight and dispatch this printed stuff using thousands of vehicles to bring it to shops and individual readers before morning comes”.

In most western countries, social security became significant approximately 70 years ago, when it got an extensive legal basis. It now plays a crucial role in developed countries to give purchasing power to citizens who do not have an income from a […]

Full Post at basicincome.org

Basic income consultation Hamilton Spectator

Enough with the consultations — that was the message anti-poverty activists had for Ontario’s social services minister, who was in town to hear public views on a basic income pilot project.

The Liberal government has held consultations on social assistance reform since 2008, says Mike Balkwill, of Put Food in the Budget Campaign.Social justice advocates have participated, only to be disappointed each time by government inaction, he added."It’s just shameful, really," added Sally Palmer, of the local Ontario Association of Social Workers social action committee. "I used to be more hopeful, but with this issue, I’m […]

Full Post at www.thespec.com

Universal Basic Income (UBI), is certainly a popular panacea right now. Most of the progressive websites have featured sympathetic articles on the topic, usually combined with worker-owned collectives as the "socialist" alternative. The UBI (or Citizen’s Income) should be relatively a cheap reform. For those in work, it turns into a tax rebate, up to the value of the citizen’s income. Anyone paid enough to pay more tax than the income would then subsidise the unemployed. The state then abolishes all other welfare benefits, since the citizens’ income gets declared to be enough to live on (and it would […]

Full Post at socialist-courier.blogspot.com

Jamie Cooke of the Royal Society of Arts Scotland believes the pilot scheme is an exciting opportunity for Scotland SCOTLAND could be the first part of the British Isles to run a universal basic income pilot after the scheme won huge support from participants in an anti-poverty initiative in a local council area.

Work to develop a trial in Fife is to be discussed this Friday at a meeting between councillors, Scottish Government civil servants and members of the Scottish Basic Income Network which campaigns for the introduction of the system.

Under UBI, or citizen’s income, welfare benefits such as child […]

Full Post at www.thenational.scot