Pay all 25 year olds £10.000 { Your thoughts }

[Red Lead Ted]

The report suggests people could use the money to help buy a property or start a business.
All UK-born citizens should be given £10,000 as a “universal minimum inheritance” when they turn 25 to help address growing wealth inequality, a thinktank has proposed.

Tax reforms and a selloff of assets including the government’s stake in Royal Bank of Scotland could help create a citizens’ wealth fund worth £186bn by 2029/30, the Institute for Public Policy Research (IPPR) said.

Such a fund would give everyone a stake in the economy and help young people invest in their futures, for example through buying a property, investing in education or starting a business, according to a report for the IPPR Commission on Economic Justice.

The fund could be large enough to pay all 25-year-olds a one-off capital dividend of £10,000 from 2030.

The report proposes capitalising the fund using a mixture of asset sales, capital transfers, new revenue streams, a small amount of borrowing and returns reinvested through the decade.

These could include reformed wealth taxes such as a gift tax to replace inheritance tax, and a “scrip tax” of up to 3% requiring major businesses to issue equity to the fund. The authors also propose national asset sales including the RBS Stake.
According to the IPPR, the wealthiest tenth of all UK households own 44% of the nation’s wealth, while the least wealthy half of households own 9%.

More than 70 governments around the world have sovereign wealth funds. Norway invested its oil income in a sovereign wealth fund established in 1990 that is now worth more than $1tn (£713bn). The IPPR report claims that had the UK’s revenues from North Sea oil been invested in a sovereign wealth fund in the 1980s, such a fund would have been worth more than £500bn today.

Carys Roberts, an IPPR senior economist, said: “Who owns wealth and who will inherit wealth is becoming more important – increasingly so, as the share of national income paid to people through wages declines.

“A citizens’ wealth fund would enable citizens to collectively own a portion of our national wealth, and make sure everyone benefits from rising returns to capital, not just people who will inherit or who already own assets. I say why not give these young people a chance of a life if 70 other countries in the world can pull this of then why not Britain.

[robpage]

What a lovely unworkable , idealistic scheme , let's start with something sensible like ID cards

[Captain Kong]

Give them NOWT!!

My dear old Dad always said to me, in his strong Lancashire accent,

"If that wants any money lad, then tha should bloodywell work for it"

So I did. Good Advice.
He started work at 12 years of age in a cotton mill until the age of 64 when Wilson closed all the cotton mills in Lancashire and because he was 64 and not 65 he lost his pension.
.

[Ivan Cloherty]

What are my thoughts.............basically unprintable

Bluddy daft idea, no doubt drawn up by academics who've probably never got their finger nails dirty

£10,000 in 2030 should allow them to upgrade their smart phones/i-pads and what they consider the other essentials of life

[Red Lead Ted]

Know one with me on this one, Because if we don,t start somewhere giving our young people some hope in this country, Serious crime, Muggings, And lord knows what else will rocket i think it is a shame that there are so many could be entrepreneurs out there thrown on the scrape heap so young, Cant afford to get on the housing ladder, Feeling totally forgotten by this country, The skills we need to inject into the working market are doing what a lot of Doctors and nurses are doing emigrating to distant parts, These young people wont have a pension to look forward to like us, They cant afford to pay into a pension fund, They probably wont have an N H S All the things we take for advantage. Very sad indeed.

[robpage]

I have one school age grandchild the other six are all working in all different jobs most of them working for qualifications one of them has two jobs a lot of it depends in this day and age of the work ethic that they've been brought up with I live next to a large council estate that have people in their third and fourth Generations now but have never worked I think that we need to get the right work at 8 and I don't think we need handouts

[Red Lead Ted]

Rob, I prefer to use the term a hand up, Not a hand out. I also know two young men who where dragged up on a council estate regarded as on the road to no where they have just opened there second furniture shop, Because the first was very successful, Never say never mate. Terry.

[robpage]

It's about the individuals Terry had the mindset that they've got one of the big problems that we have in this area is there are some kids that get up get out and get on are there are some that play with the Xbox and smoke a bit of weed and socialise with their mates play music till 2 a.m. but in this area of the country there are jobs and there are apprenticeships in fact there is a shortage of labour .

[John Pruden]

i believe in the UAE a grant of £300.000 if you start a company with more than 6 people? if the company is still trading in 3 years the grant is yours no pay back that would be a better idea? the thing with this country the banks want to give you but then drown you with interest?? jp

[Keith at Tregenna]

RE; Pay all 25 year olds £10.000 { Your thoughts }

Can this be back dated ?

Keith.