Call to give £10k to all aged 25

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

Tax reforms and a sell-off of someassetsincludingthegovernment stake in RBS could help create a Citizens’ Wealth Fund, the Institute for Public Policy Research (IPPR) 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’s Commission on Economic Justice concluded.

The proposal could help address what the think tank described as growing inequality in the UK.

The multi-billion pound fund would be capitalised using a mix of asset sales, capital transfers, new revenue streams, a small amount of borrowing and returns reinvested through the decade.

The payment could be made to people born outside the UK who have had citizenship for a certain length of time.