Zephyrnet Logo

$1,440,000 To Be Handed Out With No Strings Attached in Universal Basic Income Pilot – The Daily Hodl

Date:

A new Universal Basic Income (UBI) trial will test just how effective it is to hand out cash to everyday citizens.

The two-year trial will give away £1,600 ($2,013) per month to people in central Jarrow, northeast England and East Finchley, north London.

The test, which will send out a total of $1.44 million, will be conducted by the think tank Autonomy and will monitor 30 participants.

Researcher Will Stronge tells TalkTV that Autonomy will track the impact that the handouts have on the test subjects’ overall health and well-being.

“We’re really interested in finding out what the effect is of giving 30 people £1,600 a month unconditionally to see what the effects are both on their physical and mental health – but also on other factors like employment outcomes and their financial security too.

So it’s in a wave of experimentation around the world, recently in the US where there’s been lots of similar experiments but also in Europe as well, and in Finland.

We want to see what the effects are here in the UK where we know already we’ve had a welfare system which the United Nations have called cruel and inhuman, where often people are locked into poverty and poorly paid, insecure jobs by the current welfare system. We want to see with this cohort of people while we’re planning for a trial to take place, what effect an alternate, different sort of system has.”

Back in 2017, Finland launched its own government-backed two-year trial, giving €560 ($602) a month to 2,000 unemployed citizens aged 25 to 58.

The results found that participants who received the cash obtained a similar level of employment as the control group.

However, the recipients reported lower levels of stress, and appeared to be more motivated to find work than those who received nothing.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines
&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

spot_img

Latest Intelligence

spot_img