Reply to post: Re: Great idea, pity

Universal basic income is a great idea, which is also why it won't happen

Anonymous Coward
Anonymous Coward

Re: Great idea, pity

"If UBI is set high enough to actually live on - a lot more than £400 a month "

Actually you can (living very very basically, you could at least feed and clothe yourself, if you don't mind sleeping in charity hostels), but it does show the UK economy, particularly in the South, is ridiculously distorted and overpriced, especially in regards to accommodation.

The reason people come here to pick fruit or work in factories for very little money is largely due to the fact that Pounds Sterling in their home countries is worth a lot more, the question of whether it stays that way is open to doubt given our current economic performance, and the eye watering levels of debt, the UK (public and private) economy is pretty much on a knife edge and could well reset in the next few years, especially if property collapses (accommodation being the highest cost most people have).

If we suddenly see higher interest rates this could well happen (having had a mortgage when rates where at 15%, I remember the majority of the houses on the new estate where I lived suddenly became empty with lots of possession notices in the windows, and prices went way down, never say never, it's happened before!!)

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