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Tags: APFN | EU | Finland | Basic Income

First Look at Finland's Basic Income Trial: No Major Changes

Friday, 08 February 2019 05:38 AM

COPENHAGEN, Denmark (AP) — A nationwide experiment with basic income in Finland has not increased employment among those participating during the first half of the two-year trial, but their general well-being seems to have increased, a report said Friday.

The Social Insurance Institution of Finland, or Kela, said "it was not yet possible to draw any firm conclusions" from the experiment, where about 2,000 randomly selected, unemployed people aged 25-58 got tax-free income of 560 euros ($636) a month with no questions asked.

Finland is looking into ways to reshape its social security system and became in January 2017 the first European country to launch the trial, which will end in 2020.

Proponents say that basic income can empower people to start new businesses, knowing that they would continue to receive monthly income no matter how well their new venture does. Critics say it would merely reduce incentives for people to look for work.

Minna Ylikanno, a researcher with Kela, said the basic income recipients appeared less stressed, healthier and more confident in the future than a 5,000-member control group of social benefit recipients.

The report found that those on basic income and the unemployed people in the control group ended up working roughly the same number of days.

"The basic income may have a positive effect on the wellbeing of the recipient even though it does not in the short term improve the person's employment prospects," Ylikanno added.

The participants in both the trial and the control group were selected randomly among those who received unemployment benefits from Kela in November 2016 , Ylikanno told The Associated Press.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
A nationwide experiment with basic income in Finland has not increased employment among those participating during the first half of the two-year trial, but their general well-being seems to have increased, a report said Friday.The Social Insurance Institution of Finland,...
APFN,EU,Finland,Basic Income
268
2019-38-08
Friday, 08 February 2019 05:38 AM
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