Shadow Chancellor John McDonnell receives ‘important’ new report on UBI from Dr Guy Standing
John McDonnell MP, Labour’s Shadow Chancellor, responding to a new report, ‘Basic Income as Common Dividends: Piloting a Transformative Policy’, said:
This report is an important contribution to the debate around inequality, austerity, poverty and how we establish a fair and just economic system.
There have been pilots of ‘basic income’ elsewhere and Guy Standing has looked at them and come forward with proposals.
Whatever mechanism we use, whether ‘basic income’ or another, we have to lead in developing a radical mechanism aimed at eradicating poverty, but also means testing.
We are grateful to Guy Standing for shining a light on these problems, which have been exacerbated by a near decade of austerity.
We will be studying the contents and recommendations of this report carefully as we put together our reform policies for the next Labour government.
On tax, McDonnell added:
The next Labour government will increase income tax on the top 5%, the people who can afford it, who can pay a little bit more.
But we will also tackle tax dodging and reverse some of the giveaways to the corporations.
Only Labour will fairly tax the rich and giant corporations to end austerity, fund our public services properly, and rebuild our economy so it works for the many, not the few.
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