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To avert permanent economic damage during the worst slump for 300 years, the government has to provide emergency credit to business, guarantee loans, offer grants, defer tax and rate payments and directly pay the wages of furloughed workers
Preventing speculation and complementing fiscal policy provide strong motivations for monetization.
Universal Credit is and has been from its outset a disaster, It is mean-spirited, over-complicated, punitive and moralistic. This is the time to put it to sleep. Now is the time for UBI pilots to test variants of a basic income for one year, and then evaluate them.
Given that we have no ethically accepted principle of choosing between who is to live and who to die, we should take exceptional pains to ensure that we do not face acute shortages of life-preserving equipment.
To achieve sustained recovery, the government might need to have household debt partially cancelled. The chancellor’s recovery programme addresses corporate debt to some extent, by providing businesses with loans with generous payback conditions and other support.
John Weeks argues the coronavirus outbreak requires measures including quantity rationing and price controls, alongside a rethink of UK labour market policy.
Carolina Alves and Farwa Sial discuss the efficiency of the UK’s economic response to the COVID-19 crisis and explain why it does not directly support households but companies
The United Kingdom has made its first step toward ending the rhetoric of fiscal austerity, yet reactions to the budget on 11th March demonstrate how engrained the austerity ideology is in the media.
The day following the 2020 budget, PEF interviewed five members of the PEF Council on the new budget and the changing economic direction of the United Kingdom. Here are the interviews in full.
Guy Standing writes for the PEF blog, arguing that the government’s Job Retention Scheme is a poor and inegalitarian alternative to a basic income.
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