In a capitalist democracy, whether liberal or conservative, too much or too little in the way of lifetime capital gifts or inheritance is bad for anyone. Everyone, not just the few, should have some capital that they themselves have done nothing whatsoever to create, earn, save or make. If anyone deserves an inheritance, everyone deserves an inheritance.
Average wealth of every adult and child in the UK was £85,000 at the end of 2002, according to the Office for National Statistics. It may be about £90,000 now. All British-born UK citizens should receive at 25 the same basic minimum after-tax inheritance of ten per cent of average wealth - a British Universal Inheritance payment of, say, £10,000 less 10 per cent tax - to be broadly financed by reforming 'Inheritance' Tax into a 10 per cent flat tax on the luxury expenditure of giving and bequeathing and introducing a progressive lifetime Capital Receipts Tax on receiving, starting at 10 per cent.