Finland has decided right on the beginning of the New Year to give several of its citizens a monthly income of about $587 in an attempt to decrease the poverty in the country and further increase employment.
This comes after the Finnish government’s proposal from last year in which they had considered substituting the benefits of social insurance depending on the individual’s income with a stable and basic monthly income.
This monthly income comes with no condition or set standards, and would serve to be the first of its kind in Finland.
A Good Plan
About 2,000 citizens who possess unemployment benefits had been picked out in no way particular way in order to be involved with this trial that is set to last for two years in order to determine its benefits and positive results at the end.
The set income from the government will be reduced from the individual’s current benefits payment that he/she possesses.
We’ll See What Happens
The Finnish authorities are hoping that such a method and trial with a standardized unconditional income will restructure and reorganize the rather confusing and multifaceted system of the nation regarding social insurances.
Another matter that will be analyzed and observed by the authorities is to examine just how those who receive the basic income will actually go on about using their freely given funds.
Olli Kangas of KELA, a social benefits agency in Finland also stated that this trial aims to dismantle the discouragement conflict towards the citizens who are currently unemployed at the moment or have been for a while.
Olli Kangas added that even if those unemployed citizens eventually achieve employment, the standard set salary of $587 given unconditionally by the government will still continue as it is, regardless.
This method in order for one to be able to cover their daily provisions has received much attraction from several businesses globally, specifically tech companies.