Dear Reader,
I wanted to share an interesting development taking place in Britain—a “micro-pilot” trial of Universal Basic Income (UBI). This trial aims to assess the effects of implementing UBI on individuals’ lives. Thirty participants have been selected to receive an unconditional monthly payment of £1,600 for two years.
UBI is seen by some on the left as a potential solution to the challenges posed by capitalism. As automation advances, there is concern that numerous jobs will be lost, leading to unemployment for many. Proponents of UBI argue that the government should provide every citizen with a guaranteed income, funded by substantial taxes on the ultra-rich.
Supporters of UBI believe that it could enable a reduction in working hours without diminishing wages. This would give people more leisure time to pursue their interests in the arts, sports, education, and rest.
Undoubtedly, this trial, facilitated by think-tank Autonomy, will shed light on the expectations surrounding UBI.
While it is one thing to conduct a limited UBI trial with 30 participants, it is an entirely different matter to implement it universally. The trial’s findings will likely contribute to the ongoing debate on the feasibility and potential benefits of UBI on a larger scale.
Stay tuned for further updates on this intriguing experiment.
Best regards,
Steve Holder
Steve Holder 