According to Robert Peston this morning
The people with good credit are unlikely to want to borrow anything at this unstable time and the people with poor credit, who would want to borrow are unlikely to be able to.
He reckoned that in private the bankers all think it's a load of bollocks.
( tangledupinblue hairy badge with moving eyes, Fri 15 Jun 2012, 12:26, 1 reply, 13 years ago)

Exactly, so I don't see why repeatedly giving more and more money to banks will help.
I'd like to see a one off "stimulus package" in PAYE of about £500-600. with a polite request that people buy local things/services.
That way no "scroungers" will get it, very few top earners are on PAYE anyway so it shouldn't help the super rich and it'll give the economy a pretty decent kick.
(PsychoChomp, Fri 15 Jun 2012, 12:31, Reply)

It's a nice idea
But wouldn't all the sensible middle earners stick it in the bank?
Would probably make more sense to give it to the feckless povvos, who would then rush out and spend it on new TVs, etc.
( tangledupinblue hairy badge with moving eyes, Fri 15 Jun 2012, 12:33, Reply)

That seems like an excellent way of increasing the balance of trade deficit

( Light In Chains maker of the ikea sofa, Fri 15 Jun 2012, 12:36, Reply)

REEBOK CLASSICS FOR ALL

( Light In Chains maker of the ikea sofa, Fri 15 Jun 2012, 12:36, Reply)

But you're fogetting the middlemen and vat recipts.
Don't forget the middlemen!
(PsychoChomp, Fri 15 Jun 2012, 12:43, Reply)

Which would provide capital for some of the banks which is what the current plan is.

(PsychoChomp, Fri 15 Jun 2012, 12:43, Reply)