UK plans to introduce a new Universal Basic Income (UBI) scheme in a bid to help the vast majority of workers who have lost their jobs to Chinese companies.
The government announced the scheme will start in 2020 with around 2.5 million people receiving the scheme over the course of its term, and the scheme is expected to provide up to £500 a month to the average worker, or £18,000 a year.
It is the second scheme to be announced in the last month, with the UK announcing last week that it would extend its universal basic income scheme to all working people by 2020.
In its announcement, the UK Government also said that the scheme would provide extra support to workers who were on benefits for one month or more.
“We know the job market is challenging and that a lot of people are going through tough times.
We want to give them a bit of extra help,” said Minister for Jobs, Enterprise and Skills David Willetts, who also announced the extension of the scheme.
We are working hard to make sure that the people we are supporting are the people who really need it, said Willets.
A Universal Basic Pay scheme is also expected to be introduced later this year.
The scheme, which is a form of unemployment benefit, will provide a weekly payment to eligible workers with at least four months’ experience, as well as an additional £4,000 per annum to help pay for childcare, transport and other essentials.
Workers who have been unemployed for four weeks or more will be able to apply for a basic pay supplement, which will also cover a period of at least two months.
Under the scheme, claimants are paid between £10 and £20 per hour, with a maximum monthly payment of £4.50.
If the claimant works more than 40 hours a week, they are eligible for the additional basic pay, which increases by an additional amount of up to 30 per cent each month.
According to the Department of Work and Pensions, around 4.5million people are in receipt of the Universal Basic Payments, with around two million of those receiving the benefit.