not sure that there was 700 billion spend during covid.
but there's nothing wrong with pumping money into an economy that you have forcibly restricted (or that is in a recession for that matter)
the issue is that you need to be in control of where it ends up. UK has an extremely financialised economy where nearly everything anyone uses or does flows up to the top. Therefore taxes needed to be increased and targeted on where the money flowed to to avoid even further accumulation of assets by a small pct of the population.
but there's nothing wrong with pumping money into an economy that you have forcibly restricted (or that is in a recession for that matter)
the issue is that you need to be in control of where it ends up. UK has an extremely financialised economy where nearly everything anyone uses or does flows up to the top. Therefore taxes needed to be increased and targeted on where the money flowed to to avoid even further accumulation of assets by a small pct of the population.