The economics of magic money: how real is the stock market surge?

Has the government found the magic money tree? It certainly seems like it when the furlough scheme and various other Covid measures have taken government debt to above £2 trillion. The crazy amount of spending has been kept afloat by quantitative easing, the Bank of England’s policy of choice since the financial crisis. Some have called this ‘money-printing’ and warned of a reckoning, yet none has come. So what does this new financial environment mean for investors, savers, and the less well off? Fraser Nelson talks to a panel of special guests in this podcast, sponsored by Charles Stanley.

With Harriett Baldwin, Conservative MP who sits on the Treasury Select Committee; David Miles, an economist at Imperial College London, formerly a member of the Monetary Policy Committee; and Paul Abberley, CEO of Charles Stanley.