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Finland reports on UBI experiment

GIVING people money makes them better off, Finland’s Social Insurance Institution has concluded in a report published on Friday.

However, it added that “it was not yet possible to draw any firm conclusions” on whether the country’s experiment with a form of universal basic income (UBI) could be regarded as a success half-way through the project.

The trial sees 2,000 randomly selected unemployed people receive a tax-free income of €560 (£490) a month.

The sum is less than the dole in Finland, but recipients are not asked to look for work and would continue to receive money if they find work.

The institution said after a year the proportion of UBI recipients who had found work was no higher than the proportion of unemployment benefit recipients in a control group who had done so.

However, it said the UBI recipients appeared less stressed, healthier and more confident.

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