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Switzerland to vote on universal basic income in referendum on Sunday

Discussion in 'General Property Chat' started by Terry_w, 3rd Jun, 2016.

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  1. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    The often-dreamt of prospect is being posed as a serious question to people in Switzerland this weekend, with the country set to vote on a universal basic income scheme that could see every citizen paid a wage by default.

    The monthly payment — undecided as yet but slated to be around 2500 Swiss Francs or $3500 — would be paid to every citizen, for their whole life, no matter where they live.

    Those with a job could still work but would have the monthly income deducted from their salary.

    more at Switzerland to vote on universal basic income
     
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  2. spludgey

    spludgey Well-Known Member

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    As a working person, sounds like an annoying proposal that would encourage people bludging, but from what I've read, that's not really how it seems to work in practice. Apparently it not only reduces poverty, but it also crime.
    So if it really works as claimed, I'm all in favour!
     
  3. hash_investor

    hash_investor Well-Known Member

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    Yeah if it really works...
     
  4. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    It could stimulate the economy too!
     
  5. willair

    willair Well-Known Member Premium Member

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    It was a interesting read till this quote came up..
    quote..
    Former Greek finance minister Yanis Varofakis has also leant his support saying “think of basic income as a foundation, not a net. A floor on which to stand solidly and to be able to reach for the sky.”
     
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  6. larrylarry

    larrylarry Well-Known Member

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    Spend spend spend.
     
  7. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Inflation?
     
  8. Wukong

    Wukong Well-Known Member

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    The hardworking people realize they're paying taxes so the government can give free money away.

    Then the tax pool shrinks and the skies fall
     
  9. Hodor

    Hodor Well-Known Member

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    Interested to watch what happens. Undoubtedly some will take advantage, will it be a large enough proportion to cause system failure?

    It is probably the completely unforeseen consequences that will have the most dramatic impact.

    I can't wrap my mind around how it can work myself.
     
  10. Mick Butterfield

    Mick Butterfield Well-Known Member

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    Could see a huge saving on wages and bureaucracy for people employed and required to facilitate the current welfare systems. May not be as expensive as it looks. May also encourage some more innovation in the private sector if there is always that basic income. I think it will work a treat.
     
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  11. Mick Butterfield

    Mick Butterfield Well-Known Member

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    There are already countless people taking advantage of our current systems.
     
  12. Scott No Mates

    Scott No Mates Well-Known Member

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    Isn't it next to impossible for a non-citizen to buy property in Switzerland? Intake of refugees - negligible. Main industry - Swiss bank accounts - hmmm. Sounds like a restructure of the banking industry in the winds to pick up extra fees to pay for this scheme.
     
  13. Hodor

    Hodor Well-Known Member

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    Exactly, make it easier and more profitable to do so with less upside for going out and working... Doesn't add up to my mind. A bunch of smart people might be giving the majority of lazy (insert others) people too much credit.
     
  14. Ed Barton

    Ed Barton Well-Known Member

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    If you're doing some dead boring job on min wage and this payment is more than that, why would you bother working?

    If it's paid to citizens regardless of where they live - why not move to an ultra cheap country (Asia, South America) and live like a king?
     
  15. JohnPropChat

    JohnPropChat Well-Known Member

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    Swiss Revenue - CHF 170 billion
    If 80% of the 8 million Swiss are adults then they need CHF 192 billion a year to support this plan?
     
  16. Ed Barton

    Ed Barton Well-Known Member

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    No. Because...
    "Those with a job could still work but would have the monthly income deducted from their salary."
     
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  17. Jennifer Duke

    Jennifer Duke Well-Known Member

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    Could work, but there would need to be some incentive to be a worker?

    I'd imagine many on the borderline would decide not to work for an extra few-hundred bucks. Similar to what is happening with childcare costs vs benefits in Aus - many find out going back to work only provides a few hundred dollars back to them after paying for childcare out of a salary, so opt to have one of the couple not working and looking after the kids...?
     
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  18. Ed Barton

    Ed Barton Well-Known Member

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    AUD $3500 (2500CHF) pm sounds like a lot. But is it in Switzerland? What about the current unemployment benefits system there? Retirement benefits and payments?

    The median wage is 6000CHF, only 11% of workers earn less than 4000CHF - mean salary in switzerland | myScience / living here / salary of researchers in Switzerland

    Unemployment insurance

    Two minutes on Google and it seems like this proposal is to just pay everyone what Australians would get on the dole or pension, less any employment income. It seems like just a simplification of the welfare system.

    I believe we have a couple of members who have, or do live in Switzerland. I'd be interested to hear their thoughts.

    Edit - the figures I've quoted could be way out - just a quick search
     
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  19. Casteller

    Casteller Well-Known Member

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    Dont have to be a citizen, residents can buy property, I lived there 9 years on a B permit, could have bought if I wanted to but had a very nice rental so didn't bother. Many Swiss are not interested in buying, some friends I had were multi millionaires but still rented and had never owned property.

    Plenty of huge non-bank industries. Roche, Nestle, Novartis, Logitech, etc...
    There are plenty of refugees. Biggest Eritrean community in Europe is in Switzerland.

    One thing to behold is their unemployment system. I was unemployed for about 4 months (after working six years) and signed up for the dole and got paid over $10,000 a month. Wasn't really an incentive to find another job...
     
  20. spludgey

    spludgey Well-Known Member

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    Deflation

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