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Britons might soon get 10,000 pounds in state income

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Britons might soon get 10,000 pounds in state income

Dubai - The money would be distributed over two years.

Published: Mon 19 Feb 2018, 3:13 PM

Updated: Mon 19 Feb 2018, 5:15 PM

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The UK might soon announce GBP 10,000 for everyone living there, regardless of the employment status, paving way for residents to receive a basic state income. To get the income, the applicants must be under the age of 55 and will need to prove how they money will be used.

According to a recent report by the Royal Society for the encouragement of the Arts, Manufactures and Commerce (RSA), the GBP 10,000 (Dh52,000) payment would be split into two payments of GBP 5,000 paid over two years. And this would mean that certain welfare benefits and tax relief would be removed.

The RSA report added that Universal Basic Income (UBI) scheme will be like compensation to workers, considering how the jobs are constantly changing and progressing through the 2020s. "As automation replaces many jobs, climate change hits and more people face balancing employment with social care," the RSA report states.

Pointing that Britons are at risk financially, RSA's Action and Research Centre director, Anthony Painter, said, "The simple fact is that too many households are highly vulnerable to a shock in a decade of disruption, with storm clouds on the horizon if automation, Brexit and an ageing population are mismanaged."

However, those receiving the money would not be able to claim any tax allowances to prevent the wealthy from wanting to apply for the handout. Also, the payment would replace government benefits such as the Child Benefit, Tax Credits and Jobseeker's Allowance, according to reports in RT.



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