A windfall tax on Covid profits is vital to help tackle debt. We need action, not just political speeches
3 years, 10 months ago

A windfall tax on Covid profits is vital to help tackle debt. We need action, not just political speeches

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. They have virtually ignored the debt burden many people have been forced to take on over the last ten months as their incomes have either been cut or dried up totally. The Bank of England’s Andy Haldane referred to a coiled spring of demand to be unleashed but if only a limited coronavirus impact persists into next year, there is also the risk of a long trail of hardship, poverty and unmanageable personal debt unwinding. Without urgent action, debt problems will spiral out of control, leaving people in deep distress, the economy in tatters and a profoundly unequal recovery. We need to restore universal basic services like social care so that people don’t go into debt to pay for essential public services.

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History of this topic

How raising the nation’s debt limit could reduce spending of some coronavirus relief funds
1 year, 7 months ago

How raising the nation’s debt limit could reduce spending of some coronavirus relief funds

Associated Press  

With the pandemic officially over, leftover coronavirus relief money for vaccines, public health initiatives and other programs has become a target as negotiators try to reach a budget deal to raise the nation’s debt limit. HOW MUCH IS AT STAKE The Congressional Budget Office estimates that halting the use of unobligated pandemic relief funds would result in a net spending …

After covid-19, now a pandemic of debt
2 years ago

After covid-19, now a pandemic of debt

Live Mint  

The covid-19 pandemic increased low- and middle-income countries’ debt levels to a 50-year high. For low-income countries, the ratio of multilateral debt to total external debt has been around 36.5% over the past decade, compared to 8% for middle-income countries, which depend heavily on costlier private-sector financing. Before covid-19, the main body providing debt relief to low- and middle-income countries …

In the time of pandemic, debt relief efforts need to go further
4 years, 1 month ago

In the time of pandemic, debt relief efforts need to go further

Al Jazeera  

For the global economy to recover quickly, not only the poorest but all small and vulnerable nations should have access to debt relief. With Joe Biden’s victory in the United States presidential election, which increased the possibility for meaningful global cooperation on pressing issues disproportionately affecting vulnerable states like climate change, coupled with the development of several COVID-19 vaccines that …

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