An article by Mike Morgan-Giles that appeared in the Huffington Post on February 13 quotes form the Citizen’s Income Trust. On a list of 10 proposals the British opposition Labour Party should put into a credible alternative budget, Mogan-Giles writes: “3. Putting more money in people’s pockets: The Citizen’s Income Trust advocates paying everyone an unconditional ‘Citizens Income’, which would provide greater financial security and save around £10 billion per year. Increasing the Personal Allowance to £12,000 per year would put an extra £800 in the pockets of working people and the Adam Smith Institute believes that this will cost an extra £15 billion. The potentially cost-neutral move to a lower rate of VAT is part of Labour’s five point plan, and this will increase economic activity as well as helping the lowest paid, who spend a higher proportion of their wages.”
The article can be found online at:
Labour Can Enhance Economic Credibility With an Alternative Budget
https://www.huffingtonpost.co.uk/mike-morgangiles/miliband-labour-economy-credibilty-with-an-alternative-budget_b_1271859.html
