KCLR NewsNews & Sport

Kilkenomics co-founder praises government worker bailout

McWilliams says European Central Bank will have to hand out money

David McWilliams says he’s been impressed by the government’s economic measures to deal with the Covid19 crisis.

The The co-founder of the Kilkenomics festival in KIlkenny has been arguing for the government to hand out ”helicopter money” to everyone since the crisis hit and on Tuesday it emerged that anyone who gets sick or loses out on work will get €350  a week for the next three months.

Speaking on The Way It Is on KCLR last evening, he says trying to keep people employed by subsidising wages was also clever.

McWilliams says the European Central Bank has to print more money to fund the coronavirus bailouts.

The economist has experience of working in the Irish Central Bank.

The told Sue Nunn last night the main reason any central bank is conservative in the good times is so that it can spend in the bad times.

And he says he think the ECB will have to start just handing out money before the crisis is over to make sure our economy bounces back.