1 April 2024

5.5 billion loan to establish an alcoholism foundation

In Finland, alcoholism is a massive problem, and recently, drugs have also emerged as an issue alongside it. This is because substance abuse problems often lead to financial difficulties, prompting the parliament to narrowly approve a citizen initiative proposing the establishment and funding of a special foundation for those struggling with substance abuse issues.

The foundation's one-time basic capital is envisaged to be one thousand euros per capita in Finland. Due to Finland's challenging economic situation, the total amount accrued—approximately 5.5 billion euros—will have to be covered through government borrowing. However, this was not seen as a problem, as the public debt is already so large that it's just a drop in the ocean.

According to the preliminary plan, the foundation's funds would be invested profitably in electricity transmission fees, supplemented by a statutory additional fee, which would go towards the foundation's financing without reduction. As the foundation's assets accumulate, individuals struggling with substance abuse could apply to the foundation for financial support. Additional support could also be obtained by presenting receipts from Alko (the Finnish state-owned alcohol retail monopoly) or drug dealers.

For the aforementioned alcohol policy change, the government has established a working group, which includes a representative from the Centre Party and the Finns Party bringing the perspectives of alcoholics, as well as one Green Party and one Left Alliance member serving as experts in various other substances. The working group is chaired by a representative from the Swedish People's Party specializing in foundation financing, assisted by an expert with a background in the National Coalition Party.

The working group is known as "Huhtikuu ensin" in Finnish, although due to increasing internationalization, it is usually referred to by its English translation, "April first".


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