The coronavirus crisis has created widespread concern about the effects of unsustainable debt at all levels of society: households without savings to absorb the shock of reduced income or unemployment will be plunged into poverty; some indebted governments forced to choose between funding healthcare services to combat the pandemic and repaying their creditors; other governments taking on debt which their taxpayers will have to pay over generations; and companies facing levels of debt which will impede economic recovery and investment in the emerging ‘new normal’.
The Jubilee Centre has established a taskforce to look at all these levels of debt from a biblical perspective. Below you can find some of the papers and articles already published by the taskforce.
The measures taken to combat Covid-19 have made the chronic debt issue acute. David McIlroy believes that it is now time for the Chancellor to reverse the path of ever-increasing indebtedness.
Photo credit HM Treasury CC BY-NC-ND 2.0
Relational lending as one solution to post-Covid household debt
Estimates from the summer suggested that household debt had risen by at least £6bn during the first national lockdown in UK. Credit unions offer an alternative solution to for-profit lenders in helping to keep people from spiralling into debt this year.
David McIlroy tackles the question of how companies should be funded and how the funding of companies should be taxed.
Eve Poole provides an analysis of the UK's household debt, and proposes a temporary solution in the form of Universal Basic Income (UBI)
If your knowledge of Joseph and the famine comes solely from Andrew Lloyd-Webber’s musical, then its relevance to the current coronavirus crisis may have escaped you.
Learn more about the Jubilee Centre's different post-coronavirus taskforces.
We’re committed to offering you relevant and timely ideas that help you connect your faith to public life. Sign up to our monthly email and be the first to hear about our latest research, training and events.
Thoughtful perspectives on today's social, political and economic challenges