Finland's citizens could soon receive tax-free payouts of roughly $868 a month – just for living in the country.
Proposals being drawn up by the Finnish Social Insurance Institution call for a national basic income that would replace other benefit payments, regardless if the recipient is working or not, The Telegraph reports. It's not clear how Finland would shore up enough cash to make the payouts each year, according to Bloomberg.
Still, government officials say they're trying to encourage more people to return to work. More than 10 percent of Finland’s workforce is unemployed, with figures soaring to 22.7 percent among younger workers, according to the Telegraph.
The numbers have risen because unemployed people who take on temporary jobs often receive less money compared to their previous unemployment benefits, The Washington Post reports.
The Finnish Social Insurance Institution says according to polling, close to 69 percent of the population favors the concept of a basic income.
“For me, a basic income means simplifying the social security system,” Finnish Prime Minister Juha Sipilä told The Telegraph.
The proposals are due to be submitted in November 2016, and would cost Finland around $50.6 billion per year. The full implementation of the income would be preceded by a pilot stage in which recipients would earn $596 a month with some benefits remaining, according to Bloomberg.