Basic Income

Description

Basic income, also called universal basic income (UBI)citizen’s incomecitizen’s basic income

is a periodic payment delivered to all on an individual basis without means test or work requirement. The incomes would be:

  • Unconditional: A basic income would vary with age, but with no other conditions. Everyone of the same age would receive the same basic income, whatever their gender, employment status, family structure, contribution to society, housing costs, or anything else.
  • Automatic: Someone’s basic income would be automatically paid weekly or monthly into a bank account or similar.
  • Non-withdrawable: Basic incomes would not be means-tested. Whether someone’s earnings increase, decrease, or stay the same, their basic income will not change.
  • Individual: Basic incomes would be paid on an individual basis and not on the basis of a couple or household.
  • As a right: Every legal resident would receive a basic income, subject to a minimum period of legal residency and continuing residency for most of the year.

(see wikipedia)