The Budget will take place next week and this year the calls for radical policy options are louder than usual.
The reason for this is that after over four years of economic stagnation people are getting desperate. Usually recessions end quickly and life returns to normal, the pain of recession concentrated on the unfortunate few.
It is difficult to find anyone who has not been affected by the current crisis. Lower real wages and lost purchasing power of savings has lead to the pain being spread widely. Of course those who have lost their jobs, or left education and failed to find one, have been really hurt.
So what could be done? The BBC have a survey of some interesting alternatives. George Osborn is unlikely to listen.
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Probably one of the best articles I have ever read from the BBC. Particularly like the idea of just giving out a cheque to write off our debts. "Helicopter money" doesn't sound too bad either, both bringing in some free cash without penalizing savers. I look forward to more radical ways in which the academics suggest we get ourselves out of this.
ReplyDeleteTim.