It is called “general legacy” and is one of the most talked about proposals in the electoral campaign for the parliamentary elections in Spain, scheduled for the next 23rd and 18th years.
The goal is to “ensure equal opportunities” for everyone, regardless of origin or income, explains Yolanda Díaz, deputy prime minister and parliamentary election candidate for the left-wing Sumar party.
This support would start paying at the age of 18 and would be extended to the age of 23, with administrative follow-up, so that the value is directed to the desired areas and young people are helped to apply the value in studies, investments or establishment of the company itself.
The measure would cost Spain’s treasury €10 billion, an amount that would be obtained with higher taxes for citizens with higher incomes, i.e. those earning more than €3 million a year. Sumar estimates that the “universal legacy” would cost 0.8% of Spain’s GDP.
The measure would be financed through taxation of “great fortunes” and would benefit 500,000 people.
For Yolanda Diaz, “it’s about giving young people a future”, giving them “the chance to study or set up a business, without being dependent on their surname or family of origin”.
“That’s why we’re proposing that people receive €20,000 when they turn 18 so they can develop whether they’re studying or starting a business. That’s what’s at stake on July 23,” said Diaz, quoted by The Guardian , at a meeting of foreign correspondents.
How are we going to finance the universal inheritance of 20,000 euros for 18-year-olds? Con el impuesto a las grande fortunes.
Tax justification and redistribution policies are central to the @Sumar. pic.twitter.com/QZtbw1sk6z
– Yolanda Diaz (@Yolanda_Diaz_) July 3, 2023
Yolanda Diaz’s proposal, however, raises questions for the economy minister, socialist Nadia Calvño, who questions how the “common legacy” would work in practice.
“Anyone proposing to provide grants or provide grants without any kind of restriction on income levels or targets should explain how that would be funded, because we will have to pursue responsible fiscal policies in the coming years,” said the minister. minister of the radio station Onda Cero.
The People’s Party (PP) accuses Sumar of not prioritizing the country’s pressing problems, citing, among other things, “27% of the population is at risk of social exclusion” and that Spain’s unemployment rate is “the highest in Europe”. “Families are not making it to the end of the month and the self-employed are struggling to stay afloat,” a PP spokesperson noted.
Source: DN
