Almost unnoticed by the world, Iran has moved towards the adoption of a basic income grant to distribute money from its oil industry directly to its citizens. This could be a good example of how distorting fossil fuel subsidies used in many developing countries could be repealed without adversely impacting upon the poor. Furthermore, the outcomes of this policy could have a wider impact on the way rents from natural resources are used - allowing households to choose how to spend profits from resource extraction.
