The Government has today announced a further £50bn of quantitative easing. I'm no economist, but as I understand it how quantative easing works is that the Bank of England releases "new" money to our banks which is used to buy bonds. The banks are then expected to (as I understand it) but not obliged to then allow this money to feed into the wider economy through lending to businesses and individuals (on which they make at a profit).
Isn't this rewarding the banks at a time when they least deserve it?
This might be an over simplistic way of looking at things but would it not be better to do the following:
The population of the UK ~ 60 million
so split the money between the entire population. That works out at just over £800 each if you don't bother to apply any banding based on income etc. The money should be distributed in the form of a voucher which people must then spend on products or a service (banking the money and purchasing financial products should be disallowed).