Finland trials a Universal Basic Income scheme

The video discusses the concept of Universal Basic Income (UBI), which is being trialed in Finland. UBI proposes replacing the welfare state with a fixed monthly payment to all citizens, regardless of employment status or wealth. The video highlights individual stories from Finland, where UBI has allowed people to pursue personal projects and care for family members. However, the scheme is controversial due to its inclusion of wealthy individuals. The UK is planning its own UBI trial, aiming to apply it to an entire town. The video also addresses concerns about UBI's impact on low wages and overall costs, with ongoing experiments in the UK and Scotland seeking to answer these questions.

What is the primary purpose of Universal Basic Income as discussed in the video?

• To replace all forms of employment

• To eliminate the need for education

• To provide a safety net against job losses due to automation

• To increase taxes on the wealthy

How does the UBI scheme in Finland benefit individuals like Cindy Martin?

• It restricts her from saving money

• It forces her to work more hours

• It provides her with a luxury lifestyle

• It allows her to work less and focus on personal commitments

What is a major concern about the UBI scheme mentioned in the video?

• It causes inflation

• It leads to higher education costs

• It increases the unemployment rate

• It does not address the issue of low wages

What is the proposed amount for the UBI trial in the UK town?

• £10,000

• £5,000

• £7,000

• £3,000

What is one of the mixed reactions to the UBI trial in the UK?

• It will make people dependent on government aid

• It will encourage people to work harder

• It will lead to increased community engagement

• It will solve all economic problems