Zac_A:
Franglais:
Are you saying…I think I’ve made my views fairly plain, there’s no sense in debating them further. Yes, poorer people are frequently bad at managing money, sometimes because they have so little money in the first place, sometimes their money managenent inabilities are what made them poor.
A sample size of 30 is statistically meaningless (basic statistical teachings, not open to debate), so even if this trial did have a “positive” result, no mathematically-intelligent person is going to stick their neck out and make decisions based on it.
Speaking of maths:
We have 33 million people in employment right now
33 million x £1,600 = £52.8 billion per month
That’s £633.6 billion per year, which equates to 25% of our national debt, or 29% of our GDP
Where exactly is the forest of magic money-trees located so we increase our GDP to these levels?
Whilst printing that amount - is less than what we’ve already printed to hand over to “Foreign Aid” (including Ukraine) this past year - the catch 22 with QE printed money is that it causes inflation IF buyers of your bonds decide they don’t WANT to fund this kind of nonsense.
Giving everyone £1600 a month will lead to a situation where people currently working “won’t bother” just like during the lockdown, when they discovered that the drop in commuting overheads was saving them so much money, that they could more than get by on 80% of their salary “furlough money”…
They could start sticking money into savings, take a foreign holiday for the first time in years, and even get some home improvements done on the house…
A basic income of £1600 in the longer term would ensure that you cannot buy a basket of shopping for less than that amount, cannot pay a rent or mortgage for less than that amount, and eventually cannot buy anything at ALL for less than that amount.
Pounds Sterling will end up like the Pesetas or Lira of the past…
“Hundreds of them to buy a beer, tens of thousands for a sit-down meal, breaking a 100,000 note on payday…”