Finland begins Universal Basic Income trial as the world watches

DATE: 04/01/2017
RETRIEVED: 04/01/2017
SOURCE: NEWS.COM.AU



The trial in Finland kicked off on January 1, 2017 and marks a monumental moment for proponents of the idea who hope successful results will usher in an era of free money.

Under the two-year, nationwide pilot scheme in the country of 5.5 million, 2000 randomly picked unemployed Finns will receive a guaranteed sum of €560 ($806) per month.

The income will replace their existing social benefits and will be paid even if they find work, and government officials say it could soon be extended to other low-income groups such as freelancers, small-scale entrepreneurs and part-time workers.

THE RISE OF UBI

UBI is not a new idea having been floated by various economists and politicians across the world for decades. But it has gained real momentum in recent years with small scale schemes being introduced in developing nations Kenya, Uganda, and India.

In the developed world a number of countries have also considered experimenting with the idea. Trials are being considered in Scotland, by councils in Fife and Glasgow to potentially be rolled out soon. Currently the Canadian province of Ontario is pushing ahead with trials to begin later this year.

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