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A springboard for new citizens: universal basic capital and a citizen’s day

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  • Le Grand, Julian

Abstract

In recent years there have been several proposals from academics, think tanks, and politicians for a universal grant of basic capital (UBC) to be awarded to every citizen. There has been one UBC programme that was actually implemented: the British Child Trust Fund, started in 2003 by a Labour Government and abolished by a Coalition Government in 2011. This paper discusses the case for a UBC, focusing attention on its potential for helping young people to attain long-term positive outcomes in several dimensions of life, from employment to health. By looking at the experience of the Child Trust Fund, the paper also highlights lessons for how a UBC should be implemented in practice. It proposes a Citizen’s Day: a coming-of-age occasion, marked by a ceremony at which a substantial UBC is awarded, along with the right to vote.

Suggested Citation

  • Le Grand, Julian, 2020. "A springboard for new citizens: universal basic capital and a citizen’s day," LSE Research Online Documents on Economics 108536, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:108536
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    File URL: http://eprints.lse.ac.uk/108536/
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    References listed on IDEAS

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    1. Darrick Hamilton & William Darity, 2010. "Can ‘Baby Bonds’ Eliminate the Racial Wealth Gap in Putative Post-Racial America?," The Review of Black Political Economy, Springer;National Economic Association, vol. 37(3), pages 207-216, September.
    2. Hills, John & Bastagli, Francesca & Cowell, Frank & Glennerster, Howard & Karagiannaki, Eleni & McKnight, Abigail, 2013. "Wealth distribution, accumulation and policy," LSE Research Online Documents on Economics 51284, London School of Economics and Political Science, LSE Library.
    3. Atkinson, Anthony B., 2015. "Inequality: what can be done?," LSE Research Online Documents on Economics 101810, London School of Economics and Political Science, LSE Library.
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    Cited by:

    1. Ellie Benton & Anne Power, 2021. "CASE Annual Report 2020," CASE Reports casereport136, Centre for Analysis of Social Exclusion, LSE.

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    More about this item

    Keywords

    wealth inequality; basic capital; basic income;
    All these keywords.

    JEL classification:

    • I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General

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