Spain is in the middle of the electoral campaign for the legislative elections this month and some promises are already in sight. The most notorious in the country, so far, is that of Yolanda Díaz, current Minister of Labor and Social Economy of Spain and candidate for the left-wing Sumar party, which promises to give 20,000 euros to all 18-year-olds.
The measure, which he calls “universal inheritance”, aims to support young people to pay for their studies, make investments or create their own business. Young people would receive the amount when they turned 18 and the money would be distributed annually, until the year they turned 23.
“It is about letting young people have a future and giving them the opportunity to study or undertake without having to depend on their last name or the family they come from. That is why we are proposing that people receive 20,000 euros when they turn 18 before they can study or open a business. That is what is at stake on July 23,” explained Yolanda Díaz in an interview with the newspaper El Mundo.
Sumar estimates that this measure would cost 0.8% of Spanish GDP.
Raised in a communist family, the minister recalled that she could not fulfill her dream of being a labor inspector because there was not enough money to spend years studying.
“Being a labor inspector in Spain would have taken about five years. I am not a labor inspector because I am the daughter of working-class parents, something that would never have allowed me to do that. This is a redistributive measure that will allow the youth of our country to have a future, regardless of their nickname,” the candidate clarified.
The proposal has raised several critics. Nadia Calviño, economy minister in the socialist coalition government, questioned how the policy would work in practice.
“Whoever intends to give subsidies or aid without any type of restriction in terms of income levels or objectives has to explain how it would be financed because we are going to have to continue with a responsible fiscal policy in the coming years,” adds Nadia. Calviño, Monday, speaking to the Spanish radio station Onda Cero.
Source: TSF
