UBI (also known sometimes as Basic Income or Citizen’s Income) is a welfare programme in which all citizens receive an unconditional sum of money from the government.
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UBI-expert from the Institute for Policy Research at the University of Bath (UK), Dr Luke Martinelli comments:
"Universal basic income has ascended policy debates in recent years, motivated by the shortcomings of existing welfare systems, and our rapidly changing - and increasingly dysfunctional - labour markets.
“Yet despite the idea’s widespread appeal, there remain substantial and unanswered questions about its economic viability and political feasibility. This is why all eyes will be on Finland this Friday and why the results of its UBI experiment will be so revealing.
“We expect these results will provide us with the first really robust evidence on how UBI could affect changes in employment and people’s overall finances, as well as wider measures of wellbeing."
As part of its experiment, in Finland 2,000 unemployed people aged 25-58 were paid a tax-free €560 (£490) monthly income. This was independent of any other income they had and not conditional on looking for work. Find out more about Finland’s experiment.
About the Author:
Dr Martinelli is the author of the recent IPR Policy Brief 'Assessing the Case for Universal Basic Income in the UK'.
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