Spanish minister offers $21,000 ‘universal inheritance’ from age 18

Spain’s Labor Minister and Prime Minister candidate Yolanda Díaz of the Progressive Forum Sumar has proposed a plan to tackle social inequality. Giving 20,000 euros to every young person in the country (about $21,776) When they turn 18, they spend on education, training or starting a business. The Guardian reported: According to Diaz Sumar’s platform, which announced the policy ahead of Spain’s general election on July 23, the initiative will tax the wealthy at a cost of 10 billion euros. The goal is to ensure “equality of opportunity” regardless of family background or income, Sumer said. The payments, which start at age 18 and continue until age 23, are accompanied by administrative support for people to study, train or set up their own businesses.

DZ confirmed that the policy — called “universal inheritance” — would be available to all young Spaniards, regardless of their economic status, and would be funded by those earning more than 3 million euros a year. Sumer estimates that it costs 0.8% of Spain’s GDP. The minister, who grew up in a staunch communist family, said she was unable to pursue her dream of becoming a labor inspector due to lack of funds to spend years studying. “Being an employment inspector in Spain took about five years,” she said. “I am not an employment inspector because I am the son of working parents and I could never allow myself to do this. This is a redistribution measure that will allow the youth of our country to have a future regardless of their name.”