Financial lessons

Instead of putting money into the hands of retail banks (your reports, 7 October), it might be preferable to cut out the middle men, who would just squander it on bonuses, and instead put £1,000 into everyone’s bank account.

Because some would save, some spend and others invest, the effects would be unpredictable, but they would be immediate – unlike the previous round of quantitative easing where little discernable effect was noticed.

It would be an interesting exercise to find out what proportion would be saved, squandered or invested. Giving money directly to people will possibly mirror the government’s contradictory desire: that people should not get into too much debt but still spend enough to keep people employed.

The Bank of England printing money is called quantitative easing but if I print money it is called forgery.

The effect is the same; more money dilutes the currency.

STANLEY McWHIRTER

Balcarres Street

Edinburgh