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Home BUSINESSGovt mulls slashing unemployment benefits duration
Mon, 21 Sep, 2015 12:01:13 AM
FTimes – STT Report, Sep 21
Unemployment benefits extension application. File Photo – Str / Lehtikuva.
The government is planning to reduce the time span of earnings-related unemployment benefits by 100 days, reported the Helsingin Sanomat, a Finnish language daily.
The government steering committee, according to the report, has a strong model in which the maximum duration of earnings would be reduced by 400 days.
The cuts are scheduled to be implemented from the beginning of 2017.
According to the Helsingin Sanomat, the officials have another alternative in which the duration of unemployment benefits would be halved to 250 days.
The government considers the current 500 days of unemployment lengthy, passive and expensive. In practice, one can be entitled to earnings-related unemployment benefits for nearly two years.
The government is targeting 200 million euros in savings by cutting the earnings-related unemployment benefits.
The bill is scheduled to be tabled before parliament next spring. The unemployment benefits were originally scheduled to be reduced from the beginning of next year.
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