”The UK Labour Party is considering universal basic income as part of its new economic policy.
John McDonnell, the shadow chancellor, said the Labour Party would not rule out unconditional pay for all members of society during a talk at the London School of Economics on Tuesday night.”
“It’s an idea we want to look at. Child benefit was a form of basic income so it’s not something that I would rule out,” he said.
John McDonnell sets out the ‘watchwords’ for Labour’s economic policy
Changes to child benefit made during the coalition years reduced the amount paid to a family of two children by more than £9 a week– the equivalent of £470 a year.”
Comment: ”In short TAX TAX TAX … SPEND SPEND SPEND”
Reply: ”Taxation and public service spending is an accurate description of most political/economic models. I’m not sure what sort of…
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