Re: Great idea, pity
"the universal income, set at £150 for pensioners, £100 for working age adults and £50 per child, would cost around 49% of the UK's income from tax."
So UBI would cost half of all current tax income, and still wouldn't be high enough to live on, so we would need to keep other benefits?
I guess that's put the issue to bed then.
"however the majority of that 315billion that it would cost would actually get spent and would circulate back to the government, increasing the annual tax income by some."
Oh right, the whole thing is dependent on left-wing economic theory: The government can always afford to spend more money, because it would all simply come back to the government in higher taxes. Funny, that has never worked in practice either.
" people suggest that the amount would need to be calculated based on the current economy - the richer the country was, the more would be paid to everyone"
And when the country got poorer?
What political party would ever campaign to reduce the payment - and what is the chance of them winning an election?