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Universal Basic Income (UBI) is one of the concepts that has taken hold in the economic and financial industries, with experts expressing their support or opposition to the idea. Scotland is one of the latest to host an experiment on the issue to see if there is any merit to giving citizens a small amount of money every month. If it works, it could become a blueprint that other countries can follow.
The trial is set to be conducted in four cities, namely Glasgow, Edinburgh, Fife, and North Ayrshire, Futurism reports. Select citizens in these areas will be receiving a monthly pittance as part of the UBI pilot that the country’s government is trying out.
As expected, the concept was met with quite a bit of resistance from those who don’t believe in what they consider yet another welfare proposition. However, the program has already managed to rack up £250,000 (nearly $334,500) in support via public funding.
Many of those who support UBI have brought up the idea of the elimination of unemployment benefits with this new program, which is designed to make sure that every citizen gets the chance to get back on their feet. The money they receive could help alleviate the burden of daily necessities or could be used to invest in new businesses.
In any case, it seems the government isn’t all that concerned about the outcome of the project. As the First Minister of Scotland, Nicola Sturgeon told economists recently, if it works it works.
“It might turn out not to be the answer, it might turn out not to be feasible. But as work changes as rapidly as it is doing, I think [it’s] really important that we are prepared to be open-minded about the different ways that we can support individuals to participate fully in the new economy,” Sturgeon said.
