Do we now have non-governmental quantitative easing? Vodafone’s sale of their share in Verizon Wireless is going to raise some US $130 billion and a large proportion looks to be destined to be returned to shareholders. Then we have compensation for miss selling of products to small businesses, who are also due to get a windfall pay out. People have criticised the banks over their lending to SMEs, but this surely will provide a stimulus.

Mike Bourne

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