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Job Keeper and the Universal Basic Income

May 20, 2020 By Philip Barton

Wednesday

I’ve been pondering on the fact that it is only a few more months till September.  That is when the Australian Job Keeper hand-out to employees finishes.  What then?  Unemployment, a lot of it is the obvious answer.

I have already written at length (here, here, here and here – and many other articles) on the destruction of the economy by the government’s panicked reaction to the Wuhan Virus.

A friend rang from the UK yesterday.  He had the interesting idea that Job Keeper will morph into a Universal Basic Income (UBI).  His logic was that they have no choice if they are to (appear to) avoid massive unemployment due to their witless actions.  In a ghastly way, it makes sense.  It can be presented to the electorate as a ‘progressive’ foray into the future.

If the shutdown has not already been sufficient to bring on the debt collapse, UBI will be.

I do hope that he is wrong, though I suspect that he could be spot on.

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