Here’s how much we’d all get if the UK dumped its welfare state and introduced a universal basic income scheme instead

‘Finland is about to embark on a fascinating economic experiment that could change everything about the way we see welfare, benefits, and cash transfers to the poor.

In 2017, Finland will introduce a type of universal basic income scheme, in which most of the country’s welfare state will be abolished and replaced with a single €800 (£579, $879) per month stipend, payable to all Finns, regardless of their income, tax-free.

Citizens of Finland will be allowed to spend it in any way they want. No longer will state benefits be doled out based on the status, personal circumstances, or the qualifications of the applicant. Everyone gets €800 a month.’

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