Universal basic income Tax Amazon, Facebook and Apple more for UK universal pay – study New levy could deliver basic income of £10,000 for all to cut risk of job losses to robots The Royal Society of Arts is proposing fresh taxes on tech firms. The Royal Society of Arts is proposing that the government develop fresh taxes on tech firms, introduce wealth taxes, or borrow money from the financial markets to create a Norwegian-style sovereign wealth fund to pay for UBI. The thinktank said financing a sovereign wealth fund with taxes on capital wealth of individuals or global companies would cut the state’s reliance on income tax and national insurance. It said the model would complement welfare policies such as housing and disability benefits by supporting living costs. As well as being used to pay dividends to citizens, the wealth fund could be used in a similar way to Norway or New Zealand’s, investing around the world or supporting UK infrastructure projects.

Source: The Guardian February 16, 2018 06:00 UTC