The Labour Party is considering a Universal Basic Income policy

Whilst I am an avid follower of Richard Murphy, to adopt a policy such as Citizen’s Income unless we have resolved the other handicapping issues of the Tory austerity and lack of pursuance of Corporate welfare and other “managed” tax evasion/dodges is to introduce a toxic emotive issue. Only if we can raise the finances to empower employers(state investment) and require those with the broadest shoulders pay their equal share(as promised by Tories in May 2015)can we expect small and medium sized business to pay a higher minimum wage. Only when we have a moving economy (it is stagnant at the moment) will we have money in the exchequer.

Politics and Insights

o-JEREMY-CORBYN-JOHN-MCDONNELL-facebook.jpgThere was some speculation last year about the possibility of the Labour Party leader, Jeremy Corbyn, lending his support to the idea of basic universal income. Basic income (which is sometimes called “citizen’s income” or “universal income”) is the idea that absolute poverty can be alleviated by providing every member of a society with an unconditional subsistence income. Supporters of basic income argue that it would alleviate absolute poverty and would also motivate people to work because they would always better off, as work-related income would be additional to their subsistence income. 

Jeremy Corbyn had stated during the leadership contest that he was interested in the idea of a “guaranteed social wage” but that he believed there were issues that needed to be worked through.

Richard Murphy is a highly esteemed economist at Tax Research UK and an advocate of basic income. He’s also the co-author of Financing the Social State

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