In the context of the basic income trial in Wales, which will see care leavers receive £1,600 per month, we identify the potential wellbeing impacts of a more universal trial and the financial implications of the policy.
In 2021, the RSA held workshops with young people to understand more about their financial lives, and what impact a UBI might have on their wellbeing. We found that:
* The current system does not work for young people and they face a trade-off between work, study and leisure.
* Young people realise how important education is to their future, but their efforts are being undermined by a lack of necessary financial security.
* Young people support UBI in general and tend to believe a UBI should be paid on top of some existing benefits.
The RSA’s workshops are supported by economic analysis from Landman Economics which finds that a UBI is affordable and has potential as a preventative health strategy. Further, new polling reveals high public support for a UBI, suggesting there is appetite to explore the policy beyond the current trial in Wales.
|Place of Publication||London|
|Publisher||Royal Society for the Encouragement of Arts Manufactures and Commerce|
|Number of pages||30|
|Publication status||Published - 28 Jul 2022|