What would happen to the UK economy if EVERYONE recieved £2m from the government?

Question

What would happen to the UK economy if EVERYONE recieved £2m from the government?

Answer 1

Probably nothing.  I'm an American and have no idea how much £2m is in U.S. dollars.  The Illuminatti has been stealing so much money from the guy on the street for so many years this amount wouldn't matter any more to them than a hill of beans.

Answer 2

the government would go belly up...

massive inflation, too, until everybody's real income is the same as it was before

Answer 3

You'd want to own as many real assets as possible because pretty soon it would cost a million pounds to get a big mac.

Answer 4

It would be a disaster.  In the short run, people would use their new money to buy more things before the prices caught up with the new money supply, but then prices would rise to adjust.  The pound would crash on world markets, as other countries tried to get rid of their pounds in favor of other more stable currencies.  People would see the purchasing power of their savings decline steeply, and those living on fixed incomes would be severely squeezed.  In the long run, prices would adjust to the new money supply, but there would be a lot of overconsumption followed by financial turmoil in the meantime.  Great idea, if you want to wreck the British economy, otherwise, it's best to leave it alone.