Home > The Basic Living Standard, The Reset > The Basic Living Standard | Defining where the prices of ‘Essentials’ should be

The Basic Living Standard | Defining where the prices of ‘Essentials’ should be

Within the system that is based upon The Basic Living Standard, there are two forms or streams of commerce which can be identified: The Foods, Goods and services that we need (The Essentials) and The Foods, Goods and Services that we want (The non-essentials).

The retail or consumer cost prices of ‘Essentials’ and every part of the process that provide for them must always correspond to the requirements of The Basic Living Standard in every way.

If all the rules and principles of The True Economy and the Basic Living Standard that underpin it are followed in every way, the system will function as it is intended to do so and as it should.

On this basis, business and industry would be able to rely on the following basic formulas to identify where the prices of Essential Foods, Goods & Services or their proportional attribution. For purposes of illustration, this Table is based on the current Minimum or Living Wage  (£9.50 per hour, per 40 hour week) and shows us what maximum corresponding prices or compounded values should be:

The Essentials:Monthly % AttributionEnd of Month Value £UK
Basic Food20329.33
Accommodation20329.33
Utilities10164.67
Healthcare582.33
Transport582.33
Clothing582.33
Communication582.33
Entertainment582.33
Savings, Investments & Other Eventualities15247.00
Taxation and/or Community Contribution10164.67

For anyone attempting to gauge how unaffordable life really is for people on the minimum wage and why we are in a cost of living crisis today, this table demonstrates just how much they would or should be paying, if their wages were to be apportioned in a way that was both affordable and fair for the basic essentials at the end of each month as things stand in May 2022, with there being no requirement for Benefits Payments (subsidy) or taking on debt (loans & credit cards etc) in any way.

For reasons of practicality the attribution or proportionality percentages suggested are likely to be changed before the Basic Living Standard Wage system is adopted.

However, the change is unlikely to be any more or any less that 1 or 2 percentage points either way (+/- 1 or 2 %).

Rates of apportionment will never be changed because one interest or another claims that their business or industry wants, is entitled to or must have more.

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