It’s expected that the UK government will have to spend £104 billion this year to prop up our economy because of the coronavirus pandemic. It’s been reported that the government is already thinking about how it’s going to pay the bill and wage freezes and tax increases are two options already on the table.
But there are a few different ways that the government can choose to pay for the bill and it doesn’t have to fall on the tax payer.
In this episode, we’re joined by John Weeks, economist and author of the 'Debt Delusion'. We’ll be discussing where the money’s coming from to pay for the costs now, the options our government has to deal with the debt we’ve clocked up and ultimately who will have to pay for it.
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We Need to Talk About the Economy is our new podcast series. We're using everyday topics like health, food and jobs to try and understand the full picture of how COVID-19 is affecting our economy.
Each week, we'll be joined by experts and community leaders who'll be there to break down the complicated ideas and share their perspective on how these issues are impacting all of us.