The economy and exiting lockdown

 

Sir, – Danny McCoy (“Long-term strategies crucial to tackling health and economic crises”, Business Opinion, May 4th) correctly recognises the need “to inject money into the economy rapidly” to reverse the decline in our demand-led economy. He notes that for some sectors, “the reality is that demand has disappeared completely”.

The demand in any economy comes from consumers of society. Grants and loans, etc, to businesses are an answer. However, direct payment to all citizens in the form of a universal basic income will have the precision and speed required to increase demand as businesses open and allow the population to create the economy best suiting its needs. – Yours, etc,

HUGH

McDERMOTT,

Dromahair,

Co Leitrim.