Finland sours on guaranteed basic income experiment

Finland sours on guaranteed basic income experiment
(Image: publicdomainpictures.net)

[Ed. – We updated you on this back in January, when Bloomberg ran a novelistic, heartstring-pulling treatment on it.  Looks like the cold hand of reality is edging into the picture.]

The Finnish government has decided not to expand a limited trial in paying people a basic income, which has drawn much international interest.

Currently 2,000 unemployed Finns are receiving a flat monthly payment of €560 (£490; $685) as basic income. …

Finland’s two-year pilot scheme started in January 2017, making it the first European country to test an unconditional basic income. The 2,000 participants – all unemployed – were chosen randomly.

Trending: Illegal befriends family, makes copy of their house key, sneaks in and rapes their 6-year-old — twice

But it will not be extended after this year, as the government is now examining other schemes for reforming the Finnish social security system. …

The challenge is to find a cost-effective system that incentivises people to work, but that does not add to income inequality, Tuulia Hakola-Uusitalo of the Finnish Finance Ministry told the BBC.

Continue reading →

For your convenience, you may leave commments below using either the Spot.IM commenting system or the Facebook commenting system. If Spot.IM is not appearing for you, please disable AdBlock to leave a comment.


Commenting Policy

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please hover over that comment, click the ∨ icon, and mark it as spam. Thank you for partnering with us to maintain fruitful conversation.