The Bank of England announced today that it is going to inject £75,000,000,000 (£75 billion) into the UK economy through “Quantitive Easing” which as near as I can tell basically means giving banks more money so they can pay their top execs bigger bonuses.

I admit my understanding of Quantitive Easing is minimal (read: essentially non-existent) but ultimately the banks get more money, so, to put it another way, the people who hold the majority of responsibility for getting us in this mess get given more money to help jump start the economy (in theory, as let’s face it: they’ve already been given masses of our money and it hasn’t worked so far).

Brilliant.

But as a thought experiment let’s take that £75,000,000,000 and consider a different use for it. What if, instead of giving the banks more money (to pay their ridiculous bonuses and salaries) we were given that money? £75,000,000,000 split evenly amongst the population of the UK (~63,000,000 people) gives every person ~£1190, pre-tax. What do you think would give the UK’s economy the biggest boost? Everyone having a good chunk of extra spending money or the banks having a large chunk of money to lose?

Dan for PM 2014.