The Japanese government is considering giving away money ‘vouchers’ to poor young people to boost consumption, according to reports.
Following the examples of Finland, Canada and the Netherlands, Japan is considering the introduction of basic income, a tax-free income, after recent surveys showed that under-34s in Japan have cut spending by 11.7 per cent year on year.
Proponents of basic income say that not only does it reduce financial poverty but it has a number of other benefits, such as rewarding unpaid activities not recognised as economic contributions (parenting, for instance).
Read more
What an exemplary step to follow, I thing all G8 countries should follow the same example. Plus any other country who can afford to take such drastic step.