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Finland Plans To Give Everyone Free Money
Source: www.techinsider.io | Original Post Date: November 5, 2015
Basic income — the concept of giving people money with no strings attached— is having anything but a basic year.
Three months ago, the Dutch city of Utrecht announced it would launch a program to give people on welfare unconditional free money. The plan was so popular that it has spread to more than two dozen Dutch towns.
Now Finland wants in on the action.
The big difference: the country wants to give money to everybody, not just people on welfare.
Over the past decade, unemployment has risen drastically in the small Nordic country, home to just 5.4 million people.
In response, the Finnish Social Insurance Institution, known as KELA, has proposed an experiment to allot a monthly income of 800 euros (or roughly $870) tax-free. The cash will act as a replacement for other social benefits like housing and income support, but people will get it whether they work or not.
In other words, free money for all.
If approved in 2016, the project would begin with a pilot program in which people receive 550 euros per month and retain their benefits, before the model moves on to the real thing. The majority of Finnish residents support the plan, according to a recent survey.
Philosophers stone – selected views from the boat http://philosophers-stone.co.uk
Source: http://www.philosophers-stone.co.uk/?p=7295
