Universal basic income (UBI) has been proposed as a potential way of future-proofing for any society-wide event.
It is something that has operated in other countries, but has not yet been seen in the UK.
So could UBI be one solution to huge levels of economic uncertainty, as seen during the coronavirus lockdown?
What is UBI?
Universal basic income is a flat rate payment that is paid on a regular basis to every individual in society, regardless of their employment status.
It is paid alongside any salary that a person might earn and is designed to insure against a sudden change in circumstances.
The amount paid is determined by government, with the aim being to provide enough to cover the basics in life.
The government has already provided financial support on an unprecedented scale during the pandemic, with the furlough and job support schemes, alongside the high-profile decision to extend free school meals during holidays and various business grant schemes.
These moves have come at a time when the economic outlook remains bleak for many.
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