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Boris Johnson considers giving free cash to all

Summary:
Universal Basic Income is a controversial and relatively untested idea but is among the options being considered by the Government My hunch is that they won't go for it, but there's plenty of money in the tax havens, and a massive crash is in no one's interest, including the wealthy.  Boris Johnson said a temporary universal basic income was one of several measures under consideration to help workers left in dire financial situations by the coronavirus crisis.  Universal basic income involves regular fixed payments by the state to everyone in a country with no strings attached, irrespective of their income.  The idea remains controversial among economists and relatively untested outside of pilot programmes in countries such as Finland.  Rishi Sunak, the Chancellor,

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Universal Basic Income is a controversial and relatively untested idea but is among the options being considered by the Government


My hunch is that they won't go for it, but there's plenty of money in the tax havens, and a massive crash is in no one's interest, including the wealthy. 

Boris Johnson said a temporary universal basic income was one of several measures under consideration to help workers left in dire financial situations by the coronavirus crisis. 

Universal basic income involves regular fixed payments by the state to everyone in a country with no strings attached, irrespective of their income. 

The idea remains controversial among economists and relatively untested outside of pilot programmes in countries such as Finland. 

Rishi Sunak, the Chancellor, announced another £350bn in government spending and loan guarantees on Tuesday, focused on keeping businesses afloat through the turmoil. 

But the Government is facing growing questions about what it will do to help the self-employed, including gig economy workers, and people laid off as a result of the growing economic crisis....

The Telegraph 



Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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