UBI will achieve little if we don't replumb economy

IMAGINE at the end of every month, you got a few hundred quid in your bank account just for being alive.

Does that sound mad? Yes, it does. But that is no measure of whether it is possible or not. Bear firmly in mind that not too far back in our social history, the notion of women being allowed to vote sounded bonkers. As did the idea of a welfare state and a national health service.

Universal Basic Income (UBI) is a game-changing idea in that same mould and, if done correctly, it would profoundly alter the way we live our lives as well as the character of our society.

UBI is basically a payment, guaranteed to every citizen regardless of their circumstances, income or social background.

Depending on the amount and the frequency of the payment, UBI could replace traditional benefits, remove the stigma of means-tested social security and free many households from the stress and indignity of relative poverty.