Switzerland considering giving every adult citizen guaranteed income of $2,500 per month

Swiss govt opposes initiative, saying it would have to find a colossal 25 billion Swiss francs a year

In a surprising move, Switzerland is considering giving every adult citizen a guaranteed income of $2,500 a month.

The Swiss debate on the issue started in 2013, when a petition in favour of the initiative gathered over 100,000 signatures -- the number needed for it to be considered for debate nationally. Now, the country is considering giving every adult citizen a guaranteed stipend of $2,500 a month and will be holding a national referendum on June 5 to determine if it would do so.



Those in work and earning less than the proposed sum would have their pay topped up whereas those out of work would be given the full amount. The income would be unconditional and untaxed, and would replace various welfare payments.

However, the Swiss government has opposed the initiative, saying it would have to find a colossal 25 billion Swiss francs a year to pay for the measure.

Proponents of the initiative claim Switzerland is a rich country that can afford it. They say that because of advances in technology, hundreds of thousands of Swiss people are at risk of losing their jobs and the introduction of a basic income would give them greater security.



However, opinion polls suggest only 40% of Swiss voters will back the basic income scheme.

Switzerland is not the first country to come up with the idea of basic income. Finland is considering scrapping all welfare benefits and paying everyone $10,000 a year instead. A pilot program is set to launch early next year, with roughly 10,000 Finns receiving around 550 euros a month for two years.

This story originally appeared on CNN.