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 objective is to reduce the percentage of "impoverished population" to a minimum, 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 implementation 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 annual reverse 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 is easy to imagine, there are several general doubts regarding the success of the plan. The lack of "reassurance" is pushing many citizens into doubt and worry.
In this regard, we quote some of the words of Persaud, the Barbados envoy, so as to better clarify the situation.
Despite all the pressure from international agencies on the 'target', we hold the line on universality. That's why we brought back free tertiary education for all. International studies have shown that this is crucial for social mobility and opportunity.
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 benefit from basic income support.
Finally, Persaud also spoke about 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 part of the income produced each year is returned to all citizens over the age of 18, perhaps in the form of a citizenship dividend. "
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"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 for all our people."
This is the government's view and the information reported to us by Avinash Persaud, which fully supports the minister's basic objective.
The hypothetical operating mechanism was also discussed; how this universal income will be allocated and divided.
Apparently, everything will follow the lines of the “reverse tax credit”, the administrative system introduced in Barbados by Owen Arthur. With the reverse tax credit, if the citizen's income is not above a certain basic level, the government will top it up with a specific payment.
By following this same operating mechanism, the government will be able to assign income to the entire population.
