What is Universal Basic Income (UBI)?
UBI as an idea has been around since the 17th century. The concept is simple: all adults receive a no-strings attached sum from the state at a level above their subsistence needs.
How will UBI enhance economic equality?
The Green New Deal for incomes creates an unconditional safety net that prevents people from living in poverty. UBI provides a security blanket and an opportunity for all of us to live a fulfilling life, while liberating each of us from job insecurity.
How will UBI enhance my life?
Throughout the world UBI pilot projects show that when people are given support and freedom, they invest in themselves and each other. UBI will allow each one of us the space to start that business we’ve been dreaming about, take that course we’ve been eyeing, take time off to care for a loved one, create time for volunteering and grant us more avenues for community contribution.
How will UBI be funded?
UBI will be funded with income from the Carbon Tax (another aspect of the Green New Deal). This will ensure the proceeds from the tax on carbon emissions help meet the cost of providing a ‘Just Transition’ towards a fossil free future which is fairer and greener.
How much will I get with UBI?
The adult rate of UBI is £89 per week. This will result in around a 6% increase in disposable income over five years for some in full-time work who are paid the average salary. The Green Party intends to increase adult rates at regular intervals during the first full parliamentary term.
What about people with disabilities, lone parents & pensioners?
Some folks will receive additional payments above the basic adult rate. For example:
- Pensioners will receive a weekly payment totaling £178
- Disabled folks will receive an additional supplement to their UBI, as will lone parents and lone pensioners
Will families receive additional income on universal basic income?
Families with an income of under £50,000 a year will receive an additional £70 per week for each of their first two children, then £50 per week for each additional child. Families with an income of over £50,000 per year will receive less supplements per child, and those supplements will decrease the more the family earns.
