One of the suggested policy responses to the widespread adoption of AI and robotics replacing human labour is to introduce a Universal Basic Income (UBI). This is a small subsistence payment that covers the basic cost of living. The payment would be payable to all adults and would not have any income or asset tests. The UBI would replace most forms of social security including unemployment benefits, disability support pension and the age pension reducing the administration costs associated with those payments. The additional net tax burden to fund the UBI (which is significant) would likely be paid through higher taxes on businesses, both middle to high income earners and self-funded retirees.

What do you think are some of the pros and cons of introducing a UBI if there is significantly higher levels of future unemployment due to automation?