Give Workers 10,000 Pound To Survive Automation, British Top Think Tank Suggests (huffingtonpost.co.uk)

Britons should be able to bid for 10,000 pound (roughly $14,000) to help them prosper amid huge changes to their working lives, a leading think tank suggests today. From a report: The Royal Society for the Arts (RSA) has released research proposing a radical new sovereign wealth fund, which would be invested to make a profit like similar public funds in Norway. The returns from the fund would be used to build a pot of money, to which working-age adults under-55 would apply to receive a grant in the coming decade.

People would have to set out how they intend to put the five-figure payouts to good use, for example, by using the cash to undergo re-training, to start a new business, or to combine work with the care of elderly or sick relatives. It would be funded like the student grant system and wealthier individuals could be required to pay back more in tax as their earnings increase. Ultimately, the RSA paper suggests, the wealth fund would finance a Universal Basic Income (UBI) as the world of modern work is turned upside down by increased automation, new technology and an ageing population.

Comments

Sounds Like Something ...

[wisnoskij]

This sounds like something someone with no training in economics, politics, engineering, or logic would think up.

Royal Society for the ARTS

That explains it.

Re: let student loans be dishcahnged in bankruptcy

[gravewax]

nothing is free. What you probably meant is college should be funded by working individuals through tax. Personally fuck that, college should be funded by those that utilise it, perhaps through extra tax post graduation but still by those utilising the system. Many should be being steered away from college to a trade school.

Re: let student loans be dishcahnged in bankruptc

[mspohr]

College should be funded by rich people and corporations. They have lots of money, they just got a big tax break and they will benefit from an educated proletariat.