Day: February 7, 2012

£50 Billion for the Banks, or £1,000 for Every Adult in the UK?

This week the Bank of England decided to pump an extra £50 billion of electronic money into the UK economy, bringing the total of quantitative easing to a huge £375 billion. Scanning the responses to this I retweeted this suggestion from @andyo:

“Rather than pumping £50B into the banks, the BoE could give each household £2K. Surely that would have more effect?”