PREVIOUSLY ASKED IN:
PSC Miscellaneous Prelims 2018
Answer
Finland
Explanation
Finland became the first European country to launch a pioneering, state-backed trial of a Universal Basic Income (UBI) in January 2017. Under this two-year pilot program, the government paid 2,000 randomly selected unemployed citizens a guaranteed, tax-free income of €560 (around $600) every month, regardless of whether they found work during that period. The goal was to see if a guaranteed income would encourage people to seek employment or start businesses without the fear of losing their benefits.
Key Points
- > Finland launched the first state-backed Universal Basic Income (UBI) trial in 2017.
- > It was a two-year social experiment (2017-2018).
- > 2,000 unemployed citizens were given €560 per month unconditionally.
- > The experiment was run by Kela, the Social Insurance Institution of Finland.
- > The core concept of UBI is to provide a regular, unconditional sum of money to citizens to meet their basic needs.
- > The capital of Finland is Helsinki.
- > Finland is consistently ranked as the happiest country in the world in the World Happiness Report.
Additional Information
Nordic Countries and their Highlights
| Country | Capital | Known For |
|---|---|---|
| Finland | Helsinki | Land of Thousand Lakes, First UBI trial, Happiest country |
| Norway | Oslo | Land of Midnight Sun, Awards the Nobel Peace Prize |
| Sweden | Stockholm | Hosts and awards most Nobel Prizes |
| Denmark | Copenhagen | Wind energy pioneer, Highly corruption-free |
Memory Tips
- Finance = Finland: Connect 'Basic Income' (funds/finance) with the letter 'F' for Finland.