Minimum Income Standards in the Basic Income debate

Abstract

This chapter explores the concept or idea of “basic income” in relation to the growing work on reference budget standards, particularly in relation to the Minimum Income Standards (MIS) findings in the UK context. It confirms whether basic incomes should be paid to every individual at MIS levels or whether a Universal Basic Income (UBI) scheme as a whole should raise family incomes to the levels of the MIS. It also investigates what approach is both feasible and affordable to bring families and households closer to the MIS. The chapter marks new territory in the UBI debate, taking some of the first steps to join up important debates and explore issues surrounding UBI, MIS and reference budgets, both in theory and in practice. It discusses the feasibility of paying basic incomes at levels defined by the published MIS reports.