Zoe Williams is right: another credit crunch-induced “crash” is likely and the only affordable rescue package will be some form of quantitative easing (With Britain’s addition to debt, another crash is certain, 4 September). This time it must generate jobs for the “left behind” and others, rather than today’s beneficiaries – the property- and share-owning rich. The Green New Deal group showed the potential of such an approach in its proposal for a £50bn-a-year green infrastructure QE programme. This form of QE would provide job security and local business opportunities in every constituency, since its infrastructure improvements would take place across the UK. If they don’t, Labour could be on to a winner with its “peoples QE” proposal to fund economic improvements nationwide.

Source: The Guardian September 04, 2017 18:11 UTC