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£1000 per month "affordable and feasible response to coronavirus"

Daniel Susskind, a fellow in economics at Balliol College, Oxford university, and the author of ‘A World Without Work’ has been a sceptic about Universal Basic Income (UBI) for a long time: A payment made to everyone, no strings attached.

In the Financial Times he explained why his opinion has changed because of the coronavirus crisis: “A UBI could be affordable. For instance, handing out £1,000 cash per person per month would cost the government about £66bn a month — a fraction of the nearly £500bn bailout the UK needed to stay afloat during the 2008 financial crisis.”

Because there would be no need for “clunky bureaucracy and administration” and no means-testing necessary, his conclusion was: “In Britain, everyone gets £1,000 — as simple as that. As a result, we can do this quickly”.

Image: Pixabay

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Written by Sonja

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