Swiss Reject Idea of Universal Basic Income

More than 75 per cent of Swiss voters rejected a proposal to introduce a guaranteed basic income of more than £1,700 for everyone living in the wealthy country, writes  www.express.co.uk.

Supporters had said introducing a monthly income of 2,500 Swiss francs (£1,784) per adult – no matter how much they work – would promote human dignity and public service.

But the plans have been overwhelmingly refused after critics said the plans would cripple the economy.

Labour’s shadow chancellor John McDonnell said the concept of an unconditional payment to all could prepare Britain for robotisation of the workforce.

Many fear low-skilled workers could be replaced by automated machines, causing drastic job losses and exacerbating inequality.

The proposal for a universal basic income (UBI) suggested it would be paid to everyone, whether or not they were in work.

However opponents, including the Government, said it would cost too much and weaken the economy.

Provisional final results of the vote in Switzerland showed 76.9 percent of voters opposed the bold social experiment launched by Basel cafe owner Daniel Haeni and allies in a vote under the Swiss system of direct democracy.

Although Haeni was forced to acknowledge the public defeat, he has claimed a moral victory.

Source: www.express.co.uk