The Royal Society for the encouragement of the Arts, Manufactures and Commerce (RSA) published a revolutionary new report.
It suggests the British government should compensate all workers under 55 years by £10,000.
Handing Out Money
The RSA report indicated that the U.K. government should give every citizen under the age of 55 years £10,000. The purpose of these funds would be to compensate workers for the direction jobs are taking. The idea is to pave the way for a basic state wage.
The RSA’s idea would have recipients receiving two payments of £5,000 over a span of two years. That said, there would be certain types of tax relief and state benefits withdrawn during that same period of time. In that way, the RSA feels that workers would be better compensated for the changing nature of their jobs as a whole.
The purpose of the money would be to make it possible for citizens of the United Kingdom to be better financially prepared to cope with the 2020s and what they will bring to the job front. The report stated that “as automation replaces many jobs, climate change hits and more people face balancing employment with social care.”
Rough Times Ahead?
The RSA report suggested that the funds for the payments to all citizens under the age of 55 years would come from a British sovereign wealth fund. The dividends paid out would not be means tested. All applicants would have to do in order to qualify for the money would be to show that they are citizens under the age of 55 years and explain how they plan to use the money they would receive.
RSA Action and Research Centre director, Anthony Painter, explained that “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.”
He also went on to say that if the British people don’t alter the way they think, neither changing the way people are employed nor altering the welfare state will be enough when “the link between hard work and fair play is broken.” The funds would therefore be meant to assist working people to be able to keep up with the challenges they will face.
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