Universal Basic Income would blow up economy
AT last Thursday’s meeting of West Berkshire Council, the Liberal Democrats and Greens supported a motion calling for West Berkshire to pilot a Universal Basic Income (UBI) scheme, whereby the taxpayer would provide a permanent and comfortable living for all citizens, wealthy or not, including those who chose not to work, but instead pursue their own interests and desires.
Councillor Masters was particularly enthusiastic that it would encourage people to give up work to become artists. Such a scheme, hitherto promoted by the extreme fringes of political discourse, would be economically ruinous for the nation, inexplicably paying the richest in society the same benefits as the poorest, costing over £600bn each year and causing tax rates to effectively double across the board. It is the height of economic irresponsibility, and none of those who spoke in favour last week had the slightest inclination to explain how it would be paid for.
If ever implemented, it would be a oneyear policy only – as the carnage wreaked on the national finances would necessitate an immediate U-turn, but the damage would be permanent. Instead, Conservatives believe in giving those in need a helping hand through the welfare system – and in national emergencies like we are currently experiencing, more people than usual need our support.
The Government has reacted swiftly to set up the unprecedented support mechanisms of the furlough scheme, self-employed income support scheme, business grants, bounce back loans, Universal Credit uplifts, and more. West Berkshire Council alone has received over £91m from central government to distribute to residents and businesses to provide support in these unparalleled circumstances.
But these are emergency measures for drastic times. Most people would be horrified at the thought of the Government permanently paying people’s salaries while they stayed at home – making every adult and child in the country a dependent client of the state. I do not believe in blowing up the economy and recklessly squandering taxpayers’ hard-earned money to give wealthy citizens extra cash to spend. It is rather frightening that both the Liberal Democrats and Greens expressed support for this irresponsible policy last week – but it is welcome that residents across West Berkshire can plainly see the immense financial recklessness which would accompany any administration graced by their presence.
ROSS MACKINNON
Executive member for finance, property, commissioning and economic development
West Berkshire Council