Young ‘should all be given £10,000’

A MINIMUM inheritance of £10,000 should be available for 25-year-olds, a think-tank has suggested.

Tax reforms and a sell-off of some assets, including the Government stake in RBS, could help to create a Citizens’ Wealth Fund, the Institute for Public Policy Research said.

The fund could be worth £186 billion by 2029/30, if started from 2020/21, a report by the left-of-centre think-tank concluded.

The proposal could help address what the think-tank described as a growing inequality in the UK – ‘giving everyone a stake and a say in the economy’.

As well as UK-born citizens, the one-off payment could be made to people born overseas who have had citizenship for a certain length of time, it was suggested, but this would require a larger fund.

Think-tank economist Carys Roberts said the fund ‘would enable citizens to collectively own a portion of our national wealth’.