There is no reason NOT to print money and give it to people right now. The economy is in crisis for a non-economic reason. People aren't working or going out. The economy can't work without consumers but without work, many people have no money.

Printing money is only inflationary if there's nowhere for that money to go, but there's everywhere that's still open for it go. The supermarkets, the online shops, utilities can use that money and then it cycles back through their essential workers.

And if you make it universal, some people will actually be able to save and pay down debt, helping to keep banks capitalised rather than face a crisis as debt repayments stop at the same time as people draw down savings and liquidate assets.

And if people have money saved from their crisis fund, they'll be well positioned to kickstart the economy when things open up again. There's almost certainly going to be a huge splurge of spending, especially in hospitality, leisure and tourism, as soon as this is over.

If necessary, the BoE can easily raise interest rates if inflation does become a problem. They'd be probably be glad of the chance to do so, because right now they've got nowhere to cut to if that becomes necessary any time in the future.

So print money. Print lots of it. Give people a #UniversalBasicIncome, at least until a few months after the lockdown ends. There isn't an alternative that is as simple, elegant and foolproof.

In fact, there isn't much of an alternative at all.