In recent years, the Barbadian government has begun work on a rather ambitious plan, which involves the creation of a universal income dedicated to all.
The goal is to minimize the percentage of "impoverished population", improving the quality of life and offering equal opportunities to all citizens.
Il new government, proposes the introduction of a "citizenship dividend", which will lead to the subsequent creation of a universal basic income.
He confirms it Avinash Persaud, envoy of the Prime Minister of Barbados on investment and financial services. In a recent post on Facebook, Persaud stated that "the citizenship dividend can be combined with the reverse annual tax credit to form a kind of universal basic income".
Un universal basic income (UBI) it can be defined as a government program whereby every adult citizen regularly receives a certain amount of money.
What happens in Barbados
As it is easy to guess, there are various general doubts regarding the success of the plan. The lack of "reassurance" is driving many citizens into doubt and worry.
In this regard, we quote some of the words of Persaud, the envoy from Barbados, so as to better clarify the situation.
Despite all the pressure from international agencies on the 'target', we keep the line on universality. That is why we have restored free tertiary education for all. International studies have shown that this is crucial for social mobility and opportunities.
Likewise, the government created the new one Business Interruption Benefits for members of the National Insurance Scheme (NIS) for self-employed workers.
Thanks to this initiative, all workers - even those who do not have a standard employment contract - will be able to take advantage of basic income support.
Finally, Persaud also spoke of the possibility of "selling" assets not needed for government operations, which will be used to generate additional income.
The most ambitious project ever
The project proposed by the Barbadian government is one of the most ambitious ever.
"The idea is that a portion of the income produced each year is returned to all citizens over the age of 18, perhaps in the form of a citizenship dividend.."
"Over time, the citizen's dividend and reverse tax credit could form the basis of a universal basic income and create a greater sense of belonging to all of our people."
This is the idea of the government and the information that has been brought back to us by Avinash Persaud, which fully supports the minister's basic goal.
We also talked about the hypothetical operating mechanism; how this universal income will be allocated and divided.
Apparently, everything will follow the line of the "reverse tax credit", the administrative system introduced in Barbados by Owen Arthur. With the reverse tax credit, if the citizen's income does not exceed a certain base level, the government will supplement it with a specific payment.
Following this same mechanism of operation, the government will be able to allocate income to the entire population.