Julian Jessop quoted by The Times
Commenting on the likely economic impact of coronavirus, IEA Economics Fellow Julian Jessop predicts that the contraction in the UK “will be like a handbrake turn, rather than a slow-motion car crash.”
The impact would be felt threefold, in “a blow to sentiment” as seen in the collapsing stock markets, in the disruption to supply chains and as a reduction in spending by consumers.
Julian suggested that the government introduce “some sort of temporary universal basic income” in the form of a £1,000 handout per person “to make sure that people can afford essentials during this crisis”. Last month, Hong Kong gave a similar amount in a handout to permanent residents aged 18 or over.
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