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Scoop
3 days ago
- Politics
- Scoop
The Green Party's Universal Basic Illusion
The Green Party of Aotearoa New Zealand, long considered the progressive conscience of Parliament, has proposed an Income Guarantee, a universal, unconditional payment that would replace or simplify several parts of the welfare system. Framed as a liberating policy to reduce poverty, support unpaid labour, and prepare for a future where work may be scarcer, it has garnered enthusiastic support among progressives. But this proposal is not the radical solution it pretends to be. Instead, it reflects a greenwashed attempt to stabilise capitalism by offering just enough relief to avoid revolt. Far from challenging the structural roots of inequality, private property, wage labour, and capitalist accumulation, the Green Party's UBI functions as a sedative, dulling the sharp edges of exploitation while entrenching the system that causes it. The Green Party's UBI is a reformist containment strategy, not a pathway to liberation. Its implementation would cushion the worst aspects of capitalist life, but in doing so, it would pacify resistance, entrench private ownership, and ultimately protect the interests of capital. What the Greens Propose In 2023, the Green Party unveiled a rebranded version of UBI called the Income Guarantee. This scheme offers: A weekly payment of at least NZD $385 to all adults not in paid work, including students and carers. Higher rates for single parents and families with children. A restructuring of existing welfare benefits, replacing Jobseeker, Sole Parent Support, and Working for Families with a unified baseline payment. A new agency (replacing ACC) to guarantee 80% of minimum wage for those unable to work due to illness or disability. No work obligations, sanctions, or means-testing for this baseline. The Greens frame this as a way to value unpaid work, decouple survival from employment, and support dignity in a time of rising precarity. They also claim that it simplifies bureaucracy and builds trust in people to use the payment in ways that work for their lives. But while these ideas may seem empowering on paper, they carry deep contradictions, particularly when implemented within a capitalist framework. Reforming the System That Creates Poverty The first and most glaring issue with the Greens' Income Guarantee is that it leaves intact the very system that causes poverty and precarity in the first place. People are not poor because there is no universal income; they are poor because the means of production, land, housing, food, energy, are privately owned and controlled by a small class of capitalists. By funnelling a state stipend into a market dominated by landlords, bosses, and corporate monopolies, the Greens' UBI model subsidises capital, not challenges it. The landlord still sets the rent. The supermarket still sets the price of bread. The corporation still determines wages and hours. A 'universal income' becomes a universal transfer of public money to private pockets. This is not wealth redistribution, it's redistribution of dependency. The Greens imagine that by putting cash in your pocket, they are empowering you. But as long as that cash has to pass through the hands of property owners and profiteers, it simply recirculates back into the capitalist machine. Flat Payments in an Unequal World The Green Party's rhetoric of 'universality' masks a dangerous flattening of difference. By giving the same baseline income to all regardless of need, the policy shifts away from needs-based welfare to a market-mediated minimalism. This sounds fair on the surface, but it has regressive implications. A wealthy investor and a single parent receive the same base rate. Meanwhile, tailored supports for disability, illness, or chronic hardship are pared back, replaced with a one-size-fits-all payment that ignores the complexity of human need. While the Greens claim that specialised supports would still exist, the logic of simplification, driven by administrative efficiency and cost, risks future erosion of more expensive targeted benefits. This is not an idle concern. Across the world, UBI experiments have been used to justify welfare cutbacks, particularly under conservative governments that follow. In the long run, a flat payment becomes an excuse to individualise poverty, treating everyone the same while leaving structural inequalities untouched. UBI as Austerity in Disguise UBI can become a tool of austerity, not generosity. By packaging welfare reform as 'universal empowerment,' the state absolves itself of responsibility for meeting complex needs. It shifts risk back onto the individual giving them a cash payment, but removing the broader safety net that once protected people from market volatility. In practice, this leads to privatised hardship - disabled people navigating inaccessible housing markets on a flat income; sole parents forced to stretch meagre funds across rent, food, transport, and children's needs; sick workers unable to afford care once the specialised benefits disappear. UBI may be universal, but its effects are not equal. It entrenches the neoliberal logic that you are responsible for surviving the system, even as the system remains rigged against you. The Work Fetish in Reverse A key selling point of the Green UBI is that it allows people to work less and to study, care for whanāu, volunteer, create art, or simply rest. This is undeniably attractive. For many, the dream of decoupling survival from employment is liberatory. However, UBI doesn't abolish work, it just reorganises who gets to do less of it. The means of production still belong to someone else. People may reduce hours or leave exploitative jobs but they still must buy back access to life from those who own it. Without seizing control of land, housing, food systems, and workplaces, UBI only offers a slower treadmill, not a way off. True liberation from work requires not just the absence of compulsion, but the presence of collective power to shape what, how, and why we produce. Under capitalism, UBI is not freedom from work it is still just freedom to consume what others profit from. Automation and the Myth of Post-Work Capitalism Another justification for UBI is the coming wave of automation. As jobs are replaced by AI and machines, we are told, we need a universal income to ensure people aren't left behind. This argument is both outdated and naïve. Automation is not new it has always accompanied capitalism. And rather than freeing us from labour, it has consistently resulted in: Job displacement for the many, Wealth concentration for the few, And a race to the bottom for those still working. Without changing the ownership of technology and the surplus it generates, automation becomes a weapon against workers, not a liberation. UBI does not challenge this, it merely proposes a bribe to stay quiet while the rich get richer from robotic productivity. If we want automation to free us, we must demand common ownership of its fruits, not a state-managed allowance. Depoliticising the Class Struggle UBI has a profoundly depoliticising function. By providing everyone a basic income, it suggests that class conflict can be solved through technocratic redistribution, rather than collective struggle. It individualises economic survival and replaces mutual aid with state-administered charity. The Greens often present this as 'trusting people.' But in truth, it is a move away from politics altogether, away from strikes, occupations, assemblies, and direct action. It encourages people to become passive consumers of state policy rather than active agents of transformation. This is no accident. UBI fits comfortably within the liberal logic of non-confrontational progressivism - small gains, managed well, with no need to question who owns what or why. But anarcho-communists know that liberation is not granted it is seized. The abolition of wage labour, rent, and bosses does not come from a Treasury paper. It comes from resistance, solidarity, and revolt. The Green Fetish for Policy Without Revolution Ultimately, the Green Party's UBI is a reflection of their broader political project - a capitalism with a conscience. Their aim is to regulate, reform, and humanise the existing system not to overturn it. This is the great tragedy of Green politics: it mobilises the language of justice to protect the architecture of oppression. They speak of liberation while fearing confrontation. They dream of balance sheets, not barricades. The Income Guarantee is not a step toward socialism. It is a safety valve for capitalism, designed to prevent breakdown by making survival just bearable enough to forestall uprising. As long as the Greens seek legitimacy in Parliament, they will remain managers of compromise, not agents of emancipation. Toward a Real Alternative Anarcho-communists do not oppose the idea of everyone having their needs met. But we reject the idea that this must come in the form of a wage or income. We do not want better access to markets we want a world without them. Imagine a society where housing is free because it is collectively owned. Where food is grown and shared in community gardens, not bought. Where care work is respected and supported through mutual aid, not commodified. Where education, transport, and health are decommodified. Where people work not for profit, but for one another. This is not utopia. It exists in fragments already in marae, solidarity kitchens, workers' co-ops, and mutual aid networks. These are the embryos of a post-capitalist future. We don't need a basic income. We need basic expropriation. We need the end of property, not its pacification. No Wages, No Compromise The Green Party's UBI plan, however well-intentioned, is not a solution to poverty. It is a reformist illusion, an elegant attempt to stabilise a decaying system without addressing the violence at its core. It replaces welfare with technocracy, struggle with dependence, and solidarity with state charity. We say: No wages. No landlords. No bosses. No income guarantees only freedom from all need for income at all. We do not ask for a universal basic income. We demand a universal reclaiming of life itself.
Economic Times
4 days ago
- Business
- Economic Times
India's trade gap likely narrowed to $20.7 billion as cheaper oil, sluggish gold imports ease June deficit
Synopsis India's merchandise trade deficit saw a slight decrease to USD 20.7 billion in June 2025, according to Union Bank of India, driven by lower crude prices and gold imports. Strategic sourcing, particularly increased oil purchases from Russia and the US, helped mitigate global commodity fluctuations. TIL Creatives AI generated image for representation purposes. India's merchandise trade deficit likely eased slightly to USD 20.7 billion in June 2025, down from USD 21.9 billion in May, according to a report by Union Bank of India (UBI). The moderation was attributed to falling crude prices, subdued gold imports, and a recalibrated sourcing strategy that helped buffer the impact of global commodity fluctuations. A short-lived decline in crude prices—following the temporary Israel-Iran ceasefire—alongside increased oil production by OPEC+ helped ease India's oil-related import bill. Although Brent crude rebounded to USD 69.80/bbl in June, up from USD 64.01/bbl in May, the broader supply landscape remained favorable, preventing a sharp spike in costs. India's crude oil imports stood at 4.66 million barrels per day (mbpd) in June, marginally lower than 4.72 mbpd in May, according to energy analytics firm Vortexa. A noteworthy shift in sourcing further supported the trade balance. Indian refiners ramped up purchases from Russia and the United States, both of which surpassed traditional Middle Eastern suppliers. Russian oil imports touched a two-year high of 2–2.2 mbpd, while shipments from the US surged over 270% year-on-year in the first four months of 2025. This strategic diversification reduced exposure to geopolitical hotspots, particularly the Strait of Hormuz. Despite the improvement in oil import dynamics, India's petroleum product exports fell nearly 10% in June, dropping to 1.19 mbpd from 1.32 mbpd in May. On an annual basis, exports declined 3.7%, which limited the extent of overall improvement in the trade deficit. India's gold trade deficit also narrowed in June amid a combination of high prices, tighter regulations, and subdued domestic demand. Global gold prices averaged USD 3,353/oz, marking a 5% monthly and 32% year-to-date rise in USD terms. These elevated prices deterred fresh imports. Preliminary figures indicated a dip in gold imports to 30.56 tonnes in May, down from 34.87 tonnes in April, with expectations of a further fall in June. India imported 16.59 million tonnes (MT) of coal through major ports in June, registering a 1.2% year-on-year increase, though marginally lower by 2.1% compared to May. Thermal coal, accounting for 70.2% of the total, rose 7.2% from the same period last year, reflecting sustained demand from power and industrial sectors. The government stepped up trade enforcement through several policy interventions. These included: Anti-dumping duties on four Chinese chemicals Import bans on jute and woven fabric from Bangladesh due to reported violations Calls to restrict iron ore pellet imports from Oman, with domestic producers raising red flags over alleged Iranian-origin cargo undermining the Indian industry. The UBI report cautioned that any continued rise in global commodity prices, especially oil and metals, could add pressure to India's import bill in the coming months. However, softening global demand and sluggish exports may help offset this, keeping the overall trade balance from deteriorating sharply. 'Going forward, commodity price trends will remain critical in assessing the trajectory of India's trade deficit,' the report concluded. (With ANI inputs)
India Gazette
4 days ago
- Business
- India Gazette
Trade deficit likely narrowed further in June amid cooling oil prices, sluggish gold imports: Report
New Delhi [India], July 13 (ANI): India's merchandise trade deficit likely narrowed modestly to USD 20.7 billion in June 2025, down from USD 21.9 billion in the previous month, driven by easing crude oil prices, muted gold imports, and a shift in sourcing strategy that helped offset global commodity volatility, said a report by Union Bank of India (UBI). The report added that a sharp but temporary decline in global crude prices following a ceasefire between Israel-Iran, coupled with rising OPEC+ output, helped improve India's oil trade balance. Although Brent crude prices recovered swiftly to an average of USD 69.80/bbl in June from USD 64.01/bbl in May, the broader supply outlook helped prevent a sharp increase in import costs. India imported 4.66 million barrels per day (mbpd) of crude in June, slightly down from 4.72 mbpd in May, according to Vortexa. Notably, Indian refiners ramped up purchases from Russia and the US, outpacing traditional suppliers in the Middle East. Russian imports alone hit a two-year high of 2-2.2 mbpd, while US oil shipments surged over 270 per cent year-on-year in the first four months of 2025. According to the report this shift, driven by discounted Russian crude and strategic diversification, also reduced geopolitical risk exposure by avoiding the Strait of Hormuz. However, India's petroleum product exports dipped nearly 10 per cent in June to 1.19 mbpd, down from 1.32 mbpd in May, limiting the extent of overall trade deficit improvement. Compared to June last year, exports also declined by 3.7 per cent. On the other hand, the country's gold trade deficit also narrowed in June as soaring international prices, regulatory tightening, and rising recycling curbed imports. Gold prices averaged USD 3,353/oz in June, up 5 per cent month-on-month and 32 per cent year-to-date in USD terms. The domestic demand of the gold also remained tepid, with imports dipping to 30.56 tonnes in May from 34.87 tonnes in April which is further likely to fall in June. India imported 16.59 million tonnes (MT) of coal via major ports, up 1.2 per cent year-on-year but down 2.1 per cent from May. Thermal coal accounted for 70.2 per cent of the total, rising 7.2 per cent year-on-year. In policy actions, India imposed anti-dumping duties on four Chinese chemicals and banned jute and woven fabric imports from Bangladesh amid ongoing trade violations and diplomatic shifts. Additionally, iron ore pellet producers urged restrictions on imports from Oman, citing concerns over Iranian-origin cargoes undermining local industry. 'Going forward, commodity prices, especially oil and metals will remain on close watch to assess trends in trade deficit,' the report added The report further added that if the commodity price uptrend continues, then it will put pressure India's import bill in the coming months, adding that the softening global demand and weak export momentum could offset the impact on India's trade balance. (ANI)
Time of India
4 days ago
- Business
- Time of India
India's trade gap: Merchandise deficit eases to $20 billion June; helped by falling oil, gold imports
India's merchandise trade gap is estimated to have narrowed slightly to $20.7 billion in June 2025, down from $21.9 billion in May, according to a report by Union Bank of India (UBI). The modest improvement was largely driven by lower crude oil prices, subdued gold imports, and a change in sourcing strategies that helped buffer the impact of global commodity swings. The report pointed to a sharp, albeit brief, drop in global oil prices following a ceasefire between Israel and Iran. This, combined with increased oil production by OPEC+, contributed to a more favourable oil trade balance for India. Though Brent crude did rebound quickly, averaging $69.80 per barrel in June after falling to $64.01 in May, broader supply conditions helped keep import costs from rising too steeply. India's crude oil imports fell slightly in June to 4.66 million barrels per day, down from 4.72 million barrels per day in May, according to data from Vortexa. Refiners notably ramped up purchases from Russia and the United States, outpacing traditional suppliers in the Middle East. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Providers are furious: Internet access without a subscription! Techno Mag Learn More Undo Imports from Russia reached a two-year peak of 2–2.2 mbpd, while shipments from the US soared more than 270% year-on-year during the first four months of 2025. UBI said the shift, driven by discounted Russian oil and a push for diversification, also helped reduce geopolitical exposure by sidestepping the Strait of Hormuz. Still, India's petroleum exports dipped nearly 10% in June, slipping to 1.19 mbpd from 1.32 mbpd the previous month, which limited the overall improvement in the trade balance. Compared to a year earlier, exports were also down 3.7%. Gold imports also declined, narrowing the country's gold trade deficit. This came as global prices soared, government rules tightened, and recycling activity increased. Average gold prices stood at $3,353 per ounce in June, up 5% month-on-month and 32% since the start of the year. Domestic demand stayed muted, with gold imports falling to 30.56 tonnes in May from 34.87 tonnes in April, and likely to dip further in June. India imported 16.59 million tonnes of coal through major ports in June, up 1.2% from a year earlier but 2.1% lower than in May. Thermal coal accounted for over 70% of that volume, rising 7.2% year-on-year. Meanwhile, the government introduced anti-dumping duties on four Chinese chemicals and barred imports of jute and woven fabrics from Bangladesh, citing ongoing trade violations and diplomatic shifts. Indian producers of iron ore pellets also sought curbs on imports from Oman, raising concerns over Iranian-linked cargoes impacting domestic markets. 'Going forward, commodity prices, especially oil and metals will remain on close watch to assess trends in trade deficit,' the report said, quoted by ANI. It added that if prices continue to climb, India's import bill could come under strain in the months ahead, although softening global demand and sluggish exports may help balance the overall impact. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
4 days ago
- Business
- Time of India
India's trade gap narrows to $20.7 billion as cheaper oil, sluggish gold imports ease June deficit
Oil imports dip amid shifting global dynamics Live Events Gold imports fall as prices soar Coal imports stable Trade policy measures: Anti-dumping & import curbs Anti-dumping duties on four Chinese chemicals Import bans on jute and woven fabric from Bangladesh due to reported violations Calls to restrict iron ore pellet imports from Oman, with domestic producers raising red flags over alleged Iranian-origin cargo undermining the Indian industry. (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel India's merchandise trade deficit eased slightly to USD 20.7 billion in June 2025, down from USD 21.9 billion in May, according to a report by Union Bank of India (UBI).The moderation was attributed to falling crude prices, subdued gold imports, and a recalibrated sourcing strategy that helped buffer the impact of global commodity fluctuations.A short-lived decline in crude prices—following the temporary Israel-Iran ceasefire—alongside increased oil production by OPEC+ helped ease India's oil-related import bill. Although Brent crude rebounded to USD 69.80/bbl in June, up from USD 64.01/bbl in May, the broader supply landscape remained favorable, preventing a sharp spike in crude oil imports stood at 4.66 million barrels per day (mbpd) in June, marginally lower than 4.72 mbpd in May, according to energy analytics firm Vortexa.A noteworthy shift in sourcing further supported the trade balance. Indian refiners ramped up purchases from Russia and the United States, both of which surpassed traditional Middle Eastern oil imports touched a two-year high of 2–2.2 mbpd, while shipments from the US surged over 270% year-on-year in the first four months of 2025. This strategic diversification reduced exposure to geopolitical hotspots, particularly the Strait of the improvement in oil import dynamics, India's petroleum product exports fell nearly 10% in June, dropping to 1.19 mbpd from 1.32 mbpd in May. On an annual basis, exports declined 3.7%, which limited the extent of overall improvement in the trade gold trade deficit also narrowed in June amid a combination of high prices, tighter regulations, and subdued domestic demand. Global gold prices averaged USD 3,353/oz, marking a 5% monthly and 32% year-to-date rise in USD terms. These elevated prices deterred fresh figures indicated a dip in gold imports to 30.56 tonnes in May, down from 34.87 tonnes in April, with expectations of a further fall in imported 16.59 million tonnes (MT) of coal through major ports in June, registering a 1.2% year-on-year increase, though marginally lower by 2.1% compared to coal, accounting for 70.2% of the total, rose 7.2% from the same period last year, reflecting sustained demand from power and industrial government stepped up trade enforcement through several policy interventions. These included:The UBI report cautioned that any continued rise in global commodity prices , especially oil and metals, could add pressure to India's import bill in the coming months. However, softening global demand and sluggish exports may help offset this, keeping the overall trade balance from deteriorating sharply.'Going forward, commodity price trends will remain critical in assessing the trajectory of India's trade deficit,' the report concluded.
