While the term is overused - there can be no doubt that 2020 was an unprecedented and devastating year for the global economy. The crisis has brought radical policy innovations and shown the power of governments willing to act. Our view is that the crisis has highlighted flaws inherent in our social security systems.
The latest NERI long-read can be found here. The long-read discusses the merits of expanding universal basic services in the Republic of Ireland and in Northern Ireland. It also considers policy alternatives such as greater use of means testing, expanded social insurance and Universal Basic Income. Context is obviously key. All of these policies have revenue implications and ultimately need to be considered as part of a wider debate about the sufficiency and design of our tax and social insurance systems. The goal of this long-read is simply to take a step back and identify some of the advantages and disadvantages of the various policy options
This theme and the wider debate will form an important part of the NERI's work stream in 2021. Comments are very welcome and you can reach me at [email protected]