universal basic income to reduce inequality

• What does UBI stand for?

  Universal Basic Income
• What type of policy is Universal Basic Income (UBI)?

  Welfare policy
• What does UBI guarantee to everyone in the population?

  A monthly income
• What is the key characteristic of UBI regarding eligibility?

  It's unconditional
• What is the main aim of the monthly income provided by UBI?

  To cover basic needs
• What are the basic needs that UBI aims to cover?

  Food, accommodation, and clothing
• How is UBI typically funded?

  Government through tax revenue/borrowing/growth
• What could UBI potentially replace at its highest level?

  Existing benefit systems
• Has any country fully implemented UBI at its highest level?

  No
• How has UBI been tested in various countries?

  On a small scale
• What is one of the main purposes of UBI?

  To support those out of work
• Besides the unemployed, who else can UBI support?

  The economically inactive
• How can UBI help those who are unemployed?

  Allows time to find suitable job
• What is a major issue with means-tested benefits that UBI can overcome?

  Bureaucracy and administration
• Why are means-tested benefits considered burdensome for recipients?

  Paperwork and uncertainty
• How does UBI provide freedom in spending income?

  No checks or restrictions
• What is a problem with certain benefits like housing benefit and food vouchers?

  Forced expenditure
• Why might working while receiving means-tested benefits act as a disincentive?

  Benefits can be tapered away
• Why doesn't UBI have the same disincentive to work as means-tested benefits?

  Income is kept regardless of employment
• How can UBI help those on flexible labor market contracts?

  Act as an income top-up
• What type of labor market is beneficial for an economy?

  A flexible one
• What socially beneficial activity can UBI support?

  Looking after children
• What can UBI take away for people looking after children or elderly relatives?

  Financial burdens and stresses
• How can UBI support entrepreneurship?

  Allows savings to accrue
• What does UBI allow entrepreneurs to do regarding profit-making?

  Take their time
• Besides individual benefits, what other benefits does entrepreneurship have?

  Macro benefits for the economy
• What is a potential negative consequence of UBI regarding work ethic?

  Encourages laziness
• How can UBI reduce labor market flexibility?

  Reducing occupational and geographical mobility
• What might people lack the incentive to do with UBI in terms of skills?

  Upskill themselves
• What is a major concern about the cost of UBI?

  Very expensive policy
• Even replacing an existing benefit system, UBI is still what?

  Massively expensive
• What is likely to happen to national debt with UBI?

  Increases in national debt
• What is a potential consequence of UBI regarding government spending?

  Cuts to other areas
• What is a potential economic concern related to UBI and the money supply?

  Inflation concerns
• What is the potential inflationary effect of UBI due to?

  A lot of money swirling
• What can encourage people living off this benefit under UBI?

  Money for nothing
• Who is very likely to receive income from UBI that don't need it?

  Lots of people
• What will be the impact on future generations?

  Burden on future generations