Young people should receive 'minimum inheritance' package of £10k, think-tank says

Written by Adam Cadle

Young people should receive a "minimum inheritance" package of £10,000 when they turn 25, a think-tank has said.

An asset sell-off and tax reforms could help to create a Citizens' Wealth Fund, the Institute for Public Policy Research (IPPR) has stated. This could amount to £186bn by 2029/30, if started from 2020/21, a report by the Commission on Economic Justice included.

The institute said the fund could be managed independently but held accountable by parliament and would "give everyone a stake and a say in the economy".

IPPR research fellow Carys Roberts said: "Who owns wealth and who will inherit wealth is becoming more the share of national income paid to people through wages decline."

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