Spanish minister proposes €20,000 ‘universal inheritance’ from age of 18

Yolanda Díaz says money for study, training or starting a business would ensure ‘equality of opportunity’

Spain’s leftwing labour minister, Yolanda Díaz, has proposed a scheme to tackle social inequality by giving every young person in the country €20,000 (£17,000) to be spent on study, training or setting up a business once they reach the age of 18.

According to Díaz’s Sumar platform, which announced the policy before Spain’s snap general election on 23 July, the initiative would cost €10bn, which would be raised by taxing the rich.