31 Mar 2016

Finland considers creating universal basic wage

7:56 am on 31 March 2016

Finland may replace part of its social security system with a universal basic wage as it looks to rein in state spending.

A government-commissioned working group is proposing a tax-free monthly wage of 550 euros.

A two-year trial starting next year will involve up to 10,000 people.

The sum is roughly equal to Finland's unemployment allowance.

Wage-earning participants in the project would pay the money back via increased income tax.

Switzerland is to hold a referendum on whether to introduce basic income for all adults, and the Netherlands and France are considering similar moves.