Finnish government is planning to give every adult citizen $800 per month

Finland is currently planning for a new benefits system that will pay each of its adult citizens up to almost $10,000 per year. The new plan was announced as the government had finally done revising its welfare system which is deemed as very expensive to run.

According to the proposed plan, the new system will see all of Finns adult will receive around $865 per month regardless of their income and employment status according to CNN Money. The plan is expected to be finalized next year and the newly appointed center-right coalition government is hoping that they can start to run the program by 2017.

The Independent reported that majority of Finns support the new plan. A poll conducted by the Finnish Social Insurance Institute shows that 69 percent of the people supported the plan.

Considering that the money received will be tax-free, and the country is currently facing a high unemployment rate which is the highest it ever face in a decade. The plan is welcomed by the citizen. According to a report obtained by CNN Money, more than 9.5 percent of the Finns citizen is currently unemployed.

The Finnish government is hoping that the new plan will encourage more people to start working instead of enjoying the benefit that they receive from the unemployment stimulus which is higher compared to the minimum wage.

The new proposal is supported by the country's Prime Minister, Juha Sipila which had told reporters that "a basic income means simplifying the social security system."

According to the ABC News Online, although Sipila is supporting the motion, it will still need to be agreed by the majority of the parliament.

Although the government claims that giving the adults citizen $800 per month is far more cost-effective compared to the current system, some analysts argue that it will be otherwise for the government. According to them, the new move will cost the government up to 52.2 billion euros a year.

Previously, Switzerland had also planned to propose the same plan for the country but I was rejected after fails to get the voting from the majority of the parliament members. The plan is to pay each citizen a total of $2,500 per month or around $210 billion annually. According to the poll conducted, only 49 percent of Swiss supported the plan.

Analysts expected that the plan will actually work to help increase the income of the citizen, however, there is some fear that the government will run out of money quickly and will not be able to pay for it in the long run.