Spain’s leftwing labour minister, Yolanda Díaz, has put forward an innovative proposal to address social inequality among young people. She suggests giving each young person in the country €20,000 (£17,000) to be used for educational purposes, training, or starting a business once they turn 18. This initiative, known as the “universal inheritance,” aims to ensure equal opportunities for all individuals, regardless of their family background or income.
Díaz’s Sumar platform, which unveiled the policy prior to Spain’s snap general election on July 23rd, estimates that the scheme would cost €10bn, which will be funded through taxes imposed on the wealthy. The payments would continue until the age of 23 and would be accompanied by administrative support to guide young individuals in their chosen path of study, training, or entrepreneurship.
During a gathering of foreign correspondents in Madrid, Díaz emphasized the importance of providing young people with the opportunity to build a future independent of their family name or economic circumstances. She stated, “We propose granting €20,000 to individuals at the age of 18 so that they can pursue their development, whether through further education or by establishing a business. This is what’s at stake on July 23rd.”
Díaz clarified that the policy would be accessible to all young Spaniards and would be funded by taxing individuals earning over €3 million per year. Sumar estimates that the program would amount to 0.8% of Spain’s GDP.
As someone who grew up in a staunchly communist household, Díaz shared her personal experiences of being unable to pursue her dream career as an employment inspector due to financial constraints. She stressed that the “universal inheritance” policy aims to provide the youth of Spain with a promising future, regardless of their family background.
However, Sumar’s proposal has raised concerns from politicians across the political spectrum. Nadia Calviño, the economy minister in the socialist-led coalition government, questioned the practicality of the policy, particularly regarding income restrictions and financial sustainability.
The opposition conservative People’s Party (PP), leading the socialists in the polls, expressed stronger criticism. They accused Sumar of misallocating priorities and suggested that the government focus on addressing other pressing issues, such as high unemployment rates, social exclusion, and financial struggles faced by families and self-employed individuals in the country.
Overall, Díaz’s proposal presents a bold and unique approach to tackling social inequality among young people in Spain, but it still faces scrutiny and challenges from various political perspectives.
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