ok heres the figures for the costs of the illustrative Citizen’s Income scheme as proposed here

http://reidfoundation.org/portfolio/inplaceofanxiety/
the figures are based on several assumptions:

*assume that the basic rate of tax on earned income remains the same as now, at 32 per cent (20 per cent Income Tax plus 12 per cent Employee’s National Insurance Contributions), with higher and additional rates as at present on higher earnings. Rates of 20 percent are assumed for pensioners and for unearned income. In practice, it may be necessary to have a slightly higher rate of income tax to finance a reasonable scheme in the future*
Age______________Popn. 2011 Census_____Citizen’s Income per week_____Cost

0 to 15____________11.9 million___________£56.25____________________£35bn

16 to 24___________7.5 million____________£56.25____________________£22bn

25 to 64___________33.4 million___________£71.00___________________£124bn

65 and over________10.4 million__________£142.70____________________£77bn

State pension entitlements

in excess of £142.70_______________________________________________£15bn

Cost of Citizen’s Incomes and pension

entitlements_____________________________________________________£273bn

Running costs (1 per cent)__________________________________________ £3bn

**Total annual cost___________________________________________£276bn**
The total cost of the proposed scheme is approximately the same as the total cost of benefits and tax relief and allowances that would be replaced, i.e. £275 billion per year in 2012-13

thoughts as they say?

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