Switzerland’S Proposal To Pay People For Being Alive

[ccc]

£400 per month

[goldbug9999]

What are you talking about ^

Your total excludes pensions and tax credits.

You are missing the point of all this by a massive amount.

Pensions and tax credits cease to exist. You have a CI for all - the end.

The current benefit spend in the UK would allow just under £400 per person - not just adults - in the entire UK.

And that's not even including the huge cost cutting that would be achieved.

As said before - the number 1 thing that would happen is rents would collapse - hence the number 1 reason the powers that be won't want it to happen.

I did the calculation for working age people assuming the removal of all benefits and tax credits and replacement with CI. I excluded pensions and all people receiving them. If you throw pensioners and the pension costs into the pot then the figure dont change much since it amounts to about 7k per person (70bn amongst 10 million people).

I did not include any efficiency saving costs but even if we assume a saving of say 10% of the total benefits and TCs bill it doesn't make much of a dent in the 320bn base cost.

I should point out that I actually like the principal of it but was just pointing out that it would only work as part of a fundamental taxation reform, the problem being that direct income taxation accounts for only about 170bn of the 550bn total tax take so funding it from that alone skews the system enormously - it really needs a shift of taxation away from income to wealth/land.

Edited May 26, 2016 by goldbug9999

[olde guto]

Benefits bill including tax credits is £217bn https://fullfact.org/economy/welfare-budget/

Adult population of UK is approx 48m

Benefits per head = £4520 (£376 pcm)

So yeah £400pcm is about right. The payment could be paid in the same way the state pension is, either to your bank account or via a post office card, so the existing infrastructure could be used. PLUS you could get rid of all of the people at HMRC who process tax credits, those who handle unemployment benefits, council staff who handle housing benefit etc... that could easily save enough to get £400pcm.

It could have a slight inflationary impact on house prices as household incomes, but it could destroy the BTL business models as the unemployed or those on low incomes will not be able to pay large rents, which in turn might cause the BTL rats to desert the sinking ship driving down house prices.

[winkie]