Financial Feasibility study of Universal Basic Income

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Financial Feasibility study of Universal Basic Income

Petition Details

I would like to ask that a study be undertaken to determine the financial feasibility of Universal basic income.

Additional Information

Having read about case studies in other countries i think we should look at the feasibility of this on a country wide scale.

Just to give an idea - According to ONS - the projected adult population 18-19 is 52,403,344

According to gov.uk the government is forecast to spend £222bn on the social security system in the UK. That Equates to £350 per UK adult per month or around £4,200 per year. To get to £600 per adult per month or £7,200 per year, would cost £377bn.

Could we look at inefficiencies in benefit systems to address some of this cost and the loss of need of the department for benefits and the cost of that departments running?

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