//
you're reading...
Social Issues

Universal Basic Income in Australia


Over the years, Australia just like other developed countries have been thinking of introducing a universal basic income (UBI). But what is it, and what are the arguments for and against?

A UBI is a form of income that is offered by the government to its citizens with disregard to their employment status.

This form of income is intended to enable people to be able to have basic needs. Other than just providing basic needs, income gives a fighting chance to poor people and enables them to have better living standards.

There are tons of benefits that come with the implementation of the UBI idea. The first one is that the general standards of life will improve. In a country where young people are under a lot of pressure due to unemployment, UBI can be a lifesaver.

Young people can be able to get proper training and attain skills without being under pressure of getting basic needs. This will lead to a better quality of education and training; additionally, there will be a higher level of professionalism since people won’t be desperate to do any job just to survive.

Another reason why there’s a need for UBI is that it will level up standards between the rich and the poor. It might not be a lot but once people have access to basic needs, then elevating their lives can just be a matter of time. What UBI gives to poor people is hope for a better tomorrow, a chance for them to be on their feet again.

In addition to UBI being used as an aid, for business-minded people, this can be used as capital. Creating and running businesses using this income can have a positive impact on the economy of the country. This will in the end lead to the creation of jobs and therefore an improvement in the standards of living.

Implementation of UBI seems to come with several benefits; unfortunately, it’s not a perfect model. The biggest challenge that comes with UBI is over-expenditure by the government. Although in the long run, improved standards of living and the growth of the economy can come to fix this. If things don’t work out, unfortunately, then a country can fall into a series of debts and a destabilized economy.

It would require a complete restructure of our economy and taxation system. For example, if people were given, say $500 a week as UBI, for 20 million Australians aged 18 or over, that would be more than $10 billion a week, or a whopping $540 billion a year.

To offset this to some extent we could abolish the tax free threshold and apply 20% income on the first $18,000 a year, which would raise $57 billion a year on Australia’s 16 million workers. Increasing the tax rates on the other tax brackets would help offset a substantial amount of the other costs of a UBI.

No doubt people will be reluctant to lose their tax free threshold, or pay higher income taxes, but consider that $500 a week UBI over 52 weeks is $26,000 a year. Few of us currently pay that amount in taxation per year, and the increases would simply be to offset the extra “free” money we would be receiving.

Of course, increased personal tax rates will go nowhere near covering all the costs, and the government would have to make the decision to increase taxation on big business and the multinationals, as well as increasing the royalties on mining companies, amongst other things. I will leave that to the economists to work out.

And, of course, there would be huge cost savings from Centrelink payments, which would no longer be necessary in most cases. Not to mention that Centrelink would virtually cease to exist, with the UBI being administered by the Australian Taxation Office (ATO).

Finally, UBI does have a lot of benefits if implemented well. Hardworking citizens will play a big role in making sure that the project is a success. If this doesn’t happen and people decide not to work because either because they are getting their basic needs then the project’s collapse would cause a lot of pain.

Craig Hill is a Brisbane-based Social Justice Campaigner, Writer, Teacher and Business Consultant. He has campaigned for social justice in Australia, promoted human rights in China and worked with the homeless in Honolulu. He holds a Graduate Certificate in Education and a degree in Management.

One-Time
Monthly
Yearly

Thank you to the many people who have donated through this website, so we can keep our work going.

As a social justice campaigner, the costs of campaigning for changes to government legislation are considerable. If you appreciate this work, please consider donating so we can continue operating in this area.

The money raised will be spent on campaigning to state and federal MPs, as well as newspapers and other media across Australia, to improve social justice for all.

So far, I have appeared on national television shows like Sunrise and A Current affair, as well as national news broadcasts, radio and in over 200 newspapers Australia wide. I have also sent numerous letters to all federal MPs and senators.

Please bear in mind that while I am a business consultant, I only work part time due to also being a disabled pensioner. I intend to take these matters to court, but that takes time and money.

Any money raised through donations will be used only to cover these costs.

We would also welcome any help from legal professionals, or professionally qualified volunteers who are willing to assist.

The costs of campaigning for changes to government legislation are considerable. If you appreciate this work, please consider donating so we can continue operating in this area.

The money raised will be spent on campaigning to state and federal MP s, as well as newspapers and other media across Australia, to improve social justice for all.

Please bear in mind that while I am a business consultant, I only work part time due to also being a disabled pensioner. I intend to take these matters to court, but that takes time and money.

Any money raised through donations will be kept in a separate bank account to cover these costs.

I would also welcome any help from legal professionals, or professionally qualified volunteers who are willing to assist.

The costs of campaigning for changes to government legislation are considerable. If you appreciate this work, please consider donating so we can continue operating in this area.

The money raised will be spent on campaigning to state and federal MP s, as well as newspapers and other media across Australia, to improve social justice for all.

Please bear in mind that while I am a business consultant, I only work part time due to also being a disabled pensioner. I intend to take these matters to court, but that takes time and money.

Any money raised through donations will be kept in a separate bank account to cover these costs.

I would also welcome any help from legal professionals, or professionally qualified volunteers who are willing to assist.

Choose an amount

A$10.00
A$20.00
A$50.00
A$10.00
A$20.00
A$50.00
A$20.00
A$50.00
A$100.00

Or enter a custom amount

A$

Your contribution is appreciated.

Your contribution is appreciated.

Your contribution is appreciated.

DonateDonate monthlyDonate yearly
Advertisement

About Craig Hill

Social Justice Campaigner, Writer, Teacher and Business Consultant. Lived in China and USA. Dealing with disability. My articles have been cited in New York Times, BBC, Fox News, Aljazeera, Philippines Star, South China Morning Post, National Interest, news.com.au, Wikipedia and many other international publications. Please consider donating, to support our social justice campaign, by clicking on the "Donations Page" button in the top menu.

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

If you liked what you just read, click "Subscribe" to become a follower of the Craig Hill site. You will receive an email each time a new post is published.

Join 1,802 other subscribers

Kangaroo Education Services has nationally recognised Australian Business qualifications. Click here to find out more.

Kangaroo Education Services

Follow me on Twitter

%d bloggers like this: