Why we may need helicopter money

Mechanism could benefit the self-employed, who make up 15% of UK labour force

 
I strongly commend the boldness of the £350bn UK budget package last week as well as the further measures by the Treasury and Bank of England to shore up companies and the economy against the effects of coronavirus.

However, I believe the authorities should go further by considering direct cash injections into citizens’ pockets and bank accounts through a form of ‘helicopter money’, geared to the self-employed sections of the economy.

I have had misgivings about helicopter money in the past, but I am convinced that it now needs to be considered. One of the reasons for this is because of the rise of the self-employed and the ‘gig economy’. Self-employed people make up 15% of the labour force. I appreciate the measures on statutory sick pay, but I question whether they really are going to be enough. We do not want people to have to choose between continuing to work when they are sick or staying at home with no money; we do not want sick people to be forced to work.

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Πηγή: omfif.org