The president of Cyprus, Nicos Anastasiades, has announced the creation of a “Guaranteed Minimum Income” for all citizens. The president said, “Beneficiaries will be all of our fellow citizens who have an income below that which can assure them a dignified living, irrespective of age, class or professional situation.” According to Cyprus Mail, the policy will begin in June 2014. The exact level of the grant will be determined between now and then, but every citizen would be guaranteed “the minimum needs for a dignified living in a European Country.”
If the program goes into affect as described, it will be the world’s first full “Basic Income Guarantee” (BIG) as defined by the U.S. Basic income Guarantee Network: “government ensured guarantee that no one’s income will fall below the level necessary to meet their most basic needs for any reason.” However, the details of the program available so far indicate that it will be the negative income tax version (NIT) and not the basic income (BI) version of BIG. The difference is that NIT gets everyone to the minimum by paying only those whose incomes are below some minimum level, while BI gets everyone to the minimum, pay paying all citizens regardless of means. What will actually happen remains to be seen.
For more information, see “President announces ‘Guaranteed Minimum Income’ program,” Cypress Mail, July 26, 2013
President Nicos Anastasiades - Cypress Mail
“The single but absolutely necessary precondition is that they don’t refuse to accept offers for employment and to participate in the policies of continuous employment that are determined by the state.” (Anastasiades)
So what is the value of the word ‘guaranteed’ if the payment is not guaranteed at all, i.e. only if you accept a job. What if you do not want the job? Then no money? Most politicians simply cannot let go of forcing people into jobs. They cannot imagine that most people are only truly motivated if they can choose freely what to do.
important point! so government’s going to subsidize corporations who pay low wages? or will they legislate a decent minimum wage at the same time? and a maximum income to keep the greed in check? it’d be so wonderful if musicians, artists, poets, philosophers etc could be guaranteed a decent income in exchange for their contributions to a world worth living in.
“subsidize corporations who pay low wages?”
Well, if you have a basic income that you can live on, people can choose if they accept a low wage. But if they do not (they have the basic income), then employers will have to pay a higher wage (or do the job themselves).
“minimum wage?”
Why not. But I think it is obsolete as people have more bargaining power with a basic income.
“maximum income”
Would not know why. Unless you employ higher taxation on high incomes to finance the basic income.
“it’d be so wonderful if […]”
Sarcasm? Let us stay unambiguous.
“musicians, artists, poets, philosophers”
Well, not only them. Bakers, craftspeople, students, single parents, volunteers, carers, trainees, etc.
“decent income in exchange for their contributions”
The other way around: you need an income to be able to work. If you do not have an income, you cannot buy. You are starving, get homeless and die. So having an income is the essential precondition to contribute to the world (by working, for example).