Category: Basic Income

Finland’s ‘basic income’ program means free cash for the unemployed, no strings attachedby Circa News Economics & Business On Monday, Finland became the first European country to experiment with giving unemployed citizens a basic income. In short, they get cash for free.

The two-year experiment will give 2,000 randomly selected unemployed people 560 euros a month, or about $587. The average wage in Finland is about 3,500 euros ($3,625) per month.

Proponents say the cash will help the unemployed find different jobs or be more entrepreneurial, but critics say it will make them dependent on the cash.Olli Kangas, a member of […]

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Scotland is poised to join Finland and Canada in testing Universal Basic Income (UBI), a welfare system in which all citizens are given a fixed sum of money, regardless of their income or employment status. Any money earned from salaries or businesses is then taxed progressively. Read more about UBI here

Proponents of UBI say that it could empower people by offering them the flexibility to earn, learn, start a family or a business, safe in the knowledge that they will have enough money to get by. It is seen as a means to reduce welfare dependency and income […]

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It’s the first country in Europe to put the idea into practice. Niall Carson/PA Archive/PA Images. All rights reserved. Finland has recently begun a two-year trial providing basic income for the unemployed. The concept of a universal basic income, which aims to supply a monthly stipend regardless of employment, has gained currency in recent years. Finland, however, is the first country in Europe to put the idea into practice. Under the new provisions, 2,000 unemployed citizens, selected at random, will receive €560 (£460) per month. The amount will be deducted from the recipient’s other benefits. There are no restrictions […]

Full Post at www.opendemocracy.net

The government in Finland has begun a pioneering programme which aims at cutting bureaucracy, reducing poverty and boosting employment.

The country has become the first in Europe to pay its unemployed citizens a basic monthly income of €560 (£470, $576) starting from 1 January for the next two years. The basic stipend is worth a small fraction of the Finnish average private sector income, which stands at around €3,500 a month according to official data.

Why advertise with us The measure is part of an electoral promise made by Prime Minister Juha Sipila, who took office in May 2015, and […]

Full Post at www.ibtimes.co.uk

WIkipedia / CC 3.0 LONDON — The Indian government is set to endorse Universal Basic Income, according to one of the leading advocates of the scheme.

Professor Guy Standing, an economist who co-founded advocate group Basic Income Earth Network (BIEN) in 1986, told Business Insider that the Indian government will release a report in January which says the idea is "feasible" and "basically the way forward."

The idea behind universal basic income is simple: a regular state payment made to all citizens (one variation specifies adults), regardless of working status.Advocates say it would provide a vital safety net for all citizens […]

Full Post at www.businessinsider.com

The centuries-old concept of universal basic income (in which states provide citizens with money regardless of how much they work) continues to spark interest around the world, with Finland the latest country to experiment with a limited form of the policy. According to a report from the Associated Press , the European nation is starting a two-year trial that will give 2,000 randomly-selected unemployed citizens a guaranteed basic monthly income of €560 ($587) — even after they’ve found work.

Finland’s center-right government hopes the experiment will curb unemployment in the country, which currently stand at around 8.1 percent, or 213,000 […]

Full Post at www.theverge.com

Finland is to replace unemployment benefits with a guaranteed basic income in a trial the government hopes will end the cycle of welfare dependence said to keep people out of work.

In the first European test of its kind, out-of-work Finns will receive a monthly €560 (£473) payment, equal to the current level of unemployment benefit but with no conditions attached. It will continue to be paid even after receiving a job.

A random selection choose 2,000 people to take part in the two-year experiment, which will test one of the key theories behind basic income – that it can reduce […]

Full Post at www.theweek.co.uk

Finland’s experimental scheme to provide its citizens with a basic income, regardless of employment, launched earlier this week.

The two-year pilot scheme will provide 2,000 unemployed Finnish citizens, aged between 25 and 58, with a monthly basic income of 560 euros ($581.48) that will replace their other social benefits.

These citizens will continue to receive the basic income even if they find work.Kela, the organization which runs Finland’s social security systems and is running the pilot scheme, hopes the basic income experiment will boost employment, because the current system can potentially discourage the unemployed to find work as their earnings reduce […]

Full Post at www.cnbc.com

The problem of poverty is a global issue to worry about. Countries are concerned about the increasing income disparity among its citizens. Due to the rise of population as well as growing competition in all sectors of the world, the demand for employment opportunities is high but the supply is comparatively very low. This causes poverty as because of the lack of a source of income, a great number of people cannot afford the basic necessities. This shows that the basic income of these people is extremely low or almost nil. In order to curb this problem, Finland has […]

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