Tax Amazon, Facebook and Apple more for UK universal pay

Britain could raise new taxes on Amazon, Facebook and Apple to give every citizen under the age of 55 as much as £10,000 in a form of universal basic income (UBI), according to a study, helping to counter the growing risk of job losses from automation and artificial intelligence.

The Royal Society of Arts is proposing that the government develop fresh taxes on tech firms, introduce wealth taxes, or borrow money from the financial markets to create a Norwegian-style sovereign wealth fund to pay for UBI.

Citizens could apply for up to £5,000 annually from the fund for up to two years to help with learning or training costs, social care, or for new business, in exchange for losing some benefits such as jobseeker’s allowance and tax credits.



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