CeMPA WP 07/22 - Two feasible Basic Income schemes for the UK, and a feasible

Opinions expressed in this report should not be regarded as opinions of the Nuffield Foundation, the Freiburg Institute for Basic Income Studies, where the author is a member of the microsimulation group, the Institute for Policy Research at the University of Bath, where he is a Visiting Fellow, or the Basic Income Earth Network (BIEN), of which he is treasurer and a trustee. [...] We shall therefore require that the Basic Income scheme that is the subject of the pilot project should have the same characteristics as the national Basic Income scheme for which it is a pilot project; and as a national Basic Income scheme would have to be financially and otherwise feasible if it were to be implemented, the Basic Income scheme tested in the pilot project would have to be financia. [...] Introduction A Basic Income is an equal, regular and unconditional income for every individual of the same age, and an increasingly important element of the global debate about the proposal is the question of financial feasibility: not only in relation to whether it would be possible for a country to afford to pay a Basic Income, but just as importantly in relation to a Basic Income scheme’s effec. [...] 5 While some of the funds to pay for the Basic Income scheme would be obtained from increasing the Income Tax rates and the National Insurance Contributions rate for higher earners, most of the funds would be obtained by reducing the Income Tax Personal Allowance and the National Insurance Contributions Primary Earnings Threshold. [...] The illustrative scheme that has emerged from sequentially altering the parameters of a Basic Income scheme, microsimulating the resulting schemes in relation to the current tax and benefits systems, and evaluating the effects of the schemes against the criteria listed above until a scheme is found that satisfies them, is as follows: The scheme retains a small but meaningful Income Tax Personal Al.