Swiss Village Says 'Yes' to 2,500-Franc a Month Free Money Trial...Now It Just Needs the Cash
Swiss Village Votes for Free Money. Now It Just Needs the
Cash
By Catherine Bosley September 10 2018, 3:21 AM September
10 2018, 7:13 AM
(Bloomberg) -- It’s hard to say ‘no’ to something for
nothing.
A village in Switzerland has decided to go ahead with an
experiment on basic income, with a payout of 2,500 francs ($2,570) per month.
The next step is to raise money to finance the plan via crowdfunding.
More than 50 percent of the inhabitants of Rheinau, close
to the German border, signed up for the project, according to the organizers
website. At least half the 1,300 inhabitants needed to say ‘yes,’ and the count
stood at 692 on Monday. The submitted ballots also still have to be checked
against government data to ensure eligibility.
The decision comes two years after a proposal for a
nationwide unconditional state stipend failed to pass in a national vote.
Rheinau, on the banks of the river Rhine an hour by train
from the banking hub of Zurich, was selected by filmmaker Rebecca Panian for
the basic income trial. She says she became fascinated by the notion during the
national debate before up the 2016 vote, decided to select a village as a
guinea pig, and make a documentary.
Earnings and social benefits would count against the
payment, which will have to be raised from private sources rather than the
government.
Given the cost of living in Switzerland, the sum of 2,500
francs isn’t very large. An entry-level grocery store cashier in the city of
Basel working 42 hours per week is entitled to about 3,500 francs a month.
While the idea of paying people money -- no strings
attached -- has been around for more than a century, it has gained some
traction in recent years due to concerns in major economies about rising
inequality and jobs losses due to automation.
Finland introduced a pilot project to examine the
benefits of a universal basic income, while it’s also on the agenda of Italy’s
populist government.
©2018 Bloomberg L.P.
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