Liveable Income Guarantee : Working Paper

The current COVID-19 crisis has revealed an urgent need for a sustained approach to employment and income support policy. In addressing this, we propose a Liveable Income Guarantee (LIG). The LIG is closely linked to the idea of a participation income and starts from the principle that everyone has a right to a liveable income, to a minimum level of financial security, and an opportunity to contribute to society. The paper examines possible eligibility requirements of a LIG, suggestions of additional payments to complement the payment, as well as an outline of budgetary costs and how financing could work. We argue that the implementation of a LIG would allow Australia to be better prepared in the event of future disruptions, such as the pandemic currently affecting the global economy and societies more broadly. Beyond that, the LIG provides the support that allows us to aspire to be a society where everyone has an income sufficient to live a comfortable and dignified life.