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Closed petition The Government should consider implementing a Negative Income Tax system.
The Government should implement a Negative Income Tax system with a Minimum Income Guarantee. Unlike UBI this would provide targeted support to those who need it by guaranteeing a minimum level of income that phases out the more you earn, with implementation via existing tax systems.
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Our country is currently suffering a public health and economic crisis, as of 11th Aug there are 9,373,700 people on furlough and 175,134 redundancies with more to come. A Negative Income Tax System could provide security for families as well as maintain the velocity of money within our economy. It would also ease the transition from furlough as well as provide a futureproof for increased automation. Unlike UBI, NIT is targeted in its approach but ultimately has the same benefits as UBI.
This petition is closed All petitions run for 6 months