Horror in the City at the Tories' mini-Budget, with the economist and former trader Gary Stevenson
Daily Politics from the New Statesman
00:00
Why Doesn't It Work?
During COVID the government printed and distributed an enormous amount of money, 600 billion pounds. It ended up being distributed very unequally - wealthy people literally accumulated hundreds of thousands of pounds. But when you give everybody more money, all that happens is prices go up. So it doesn't make anybody rich. If you give one person a little bit of money and another person a lot of money, what will happen is the person who got alittle bit of money will have more money but they will get a small share of overall resources.
Play episode from 09:27
Transcript
