People could be paid £1,600 a month for two years: As part of a trial of a Universal Basic Income, individuals could receive a monthly payment of $1,600 without having to fulfil any requirements.
30 participants from central Jarrow, in north-east England, and East Finchley, in north London, would take part in the two-year trial.
Anyone from the two regions may apply for the trial and participate anonymously.
Analysts from the think tank Autonomy are working to secure funding for the programme, and they will also investigate how participation in the initiative affects the lives of those involved.
A universal basic income is established so that the government pays a set salary to everyone, regardless of their circumstances, to cover their fundamental needs.
Autonomy stated that it believes the trial will help make the case for a national basic income and lead to the creation of additional pilot programmes to examine how it could function.
Cleo Goodman, the co-founder of Basic Income Conversation, stated, “We expect that this plan will result in the very first Basic Income pilots in England.
People could be paid £1,600 a month for two years
In one of the wealthiest countries in the world, no one should ever be forced to choose between feeding and heating.
Basic income has the potential to streamline Britain’s welfare system and combat destitution.
More than 500 care leavers in Wales are receiving a basic income of $1,600 per month for three years under a similar programme.
Care leavers are young individuals leaving the care system, including children’s homes and foster care.
A person with a monthly basic income of £1,600 would have an annual basic income of £19,200.
This is more than the National Living Wage would provide. Current National Living Wage rates for individuals aged 23 and older are £10.42 per hour, or approximately £1,500 per month if they worked 35 hours per week.
The amount of the basic income is also significantly higher than the monthly standard allowance payments for Universal Credit, a benefit received by millions of low-income Britons of working age.
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Current monthly standard allowance rates are as follows:
- Single under 25: £292.11
- Single 25 or over: £368.74
- Under-25 joint claimants: £458.51
One or both claimants must be 25 or older to qualify for a joint benefit of $578.82.
It would also exceed the current Pension Credit income supplement for state pension-eligible individuals with modest incomes.
Pension Credit supplements a person’s monthly income to a maximum of £201.05 for single claimants and £306.85 for couples.
To be eligible for the benefit, an individual must have reached or be about to reach the state pension age, which is presently 66 years old.
The support, which can boost a household’s revenue by more than £3,500 annually, is available regardless of whether or not the individual is claiming their state pension.
