replied on 17/03/2020 19:06
Posted on 17/03/2020 19:06
Details are still sketchy at present, but it appears that the US Government is proposing to issue individual cheques to its citizens for USD1,000 [or more!] to encourage a consumer driven boost to the US economy to offset the potential for recession because of the Coronavirus pandemic. It appears to be a variation of the Universal Income format, but using a single payment instead of a regular distribution and both variants have been mooted elsewhere as counters to economic downturns.
I can see that the spending boost will benefit the US economy, and that a decent chunk of the money would have to be distributed anyway to providing basic welfare support during the Coronavirus crisis. What I can't see at present is how, with shops and online distribution closing down in response to social isolation needs, and employees being laid off or sidelined with the infection, the purchasing activity can actually happen. Any thoughts, and should UK launch a similar programme?
Steve