In her presidential programme, Anne Hidalgo promises young people “an endowment of 5000 euros at the age of 18 to finance their personal and professional projects”as she said at a meeting in Aubervilliers on January 22.
5000 euros, therefore for all young adults. All ? Maybe not: on January 13 on France Inter, she announced that the richest would not be entitled to it: “starting capital which will of course be subject to means testing, but not only for the most disadvantaged, I am thinking of the middle classes”she specified.
Three days later, guest of BFMTV, Anne Hidalgo changed her mind. Asked by a journalist who asked her if this measure would not be subject to a ceiling on resources, she replied: “on this sum of 5000 euros, no, because I really want it to be general.” Interviewed on the show “8:22 p.m.“, Anne Hidalgo acknowledged “a little inaccuracy, sorry it can happen!”, and confirmed that this endowment would be universal. It would therefore concern some 800,000 young people aged 18 per year. Invoice for the State: up to four billion euros each year.
In Europe, the United Kingdom set up a young capital in 2005, the Child Trust Fund, a “children’s investment fund”. Each child received twice 250 pounds sterling from the State between birth and seventh birthday. Or the equivalent at the time of 700 euros, blocked in a savings account until he was 18 years old. But the British government ended it in 2011, deeming the measure too costly for public finances. The sum allocated to young English people was however seven times lower than the 5000 euros promised by Anne Hidalgo.
18 years old is an important step… But didn’t the candidate think a little big for a birthday present?
When asked, Anne Hidalgo justified herself: “the ISF is four billion tax gifts that Emmanuel Macron made, and it didn’t shock anyone! Me it shocked me. There it is four billion, and I prefer that young people of 18 can leave in life, with this idea that they can have a project.“
Anne Hidalgo’s program for the 2022 presidential election
“Tomorrow, starting capital for every young person?”, Julien Damon, Les Echos, December 21, 2020
“Capital endowments for young people”, Center for Strategic Analysis, 2007
International Child Development Accounts, Michael Sherraden et al., Washington University, Center for Social Development, 2016
“Child trust funds to be scrapped”, Lisa Bachelor, The Guardian, 24 May 2010 (in English)
Non-exhaustive list.