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> The announcement follows the release of an external report by UK-based consultants Alma Economics, which found that the pilot cost €72 million to date but gen
by jt2190 1y ago
> The announcement follows the release of an external report by UK-based consultants Alma Economics, which found that the pilot cost €72 million to date but generated nearly €80 million in total benefits to the Irish economy. The report also found that recipients’ arts-related income increased by more than €500 per month on average, income from non-arts work decreased by around €280, and reliance on other social programs declined, with participants receiving €100 less per month on average.
So, overall a neutral-to-good outcome, from a financial point of view. I think we can debate about whether it’s necessary for the government of Ireland to fulfill this funding role, but I’m not sure this is the most wasteful thing that a government can do.
- seivan 1y ago[dead]
- JonChesterfield 1y agoI'd bet the 72M cost was in actual euros that could be spent on other things, while other people have noted that the 80M in benefit was not in euros, but in happiness, which is notable for being difficult to spend on different things. Some people might speculate that the arbitrary multiplier on happiness-to-euros for the second half was chosen to make it look like a slightly profitable endeavour on superficial examination.
- john-h-k 1y ago> generated nearly €80 million in total benefits to the Irish economy Approximately 75% of the “benefits” is by the WELLBY framework, which considers each “wellbeing point” to be equivalent to €13,000 a year additional income. This could be a valid metric, but it feels a bit iffy, and without this evaluation it would be a significant cost to the Irish economy, so I do not think this UBI can be considered truly a positive return to the economy [1] https://assets.gov.ie/static/documents/b87d2659/20250929_BIA_CBA_Final_Report.pdf https://assets.gov.ie/static/documents/b87d2659/20250929_BIA... - goto ‘Results’
- kieranmaine 1y agoI only found out about the WELLBY due to this report. I don't have the time or expertise to evaluate it, so I'm interested in why you find it "iffy"?