The Bank of England is expected to announce it will “print money” – and could cut the base rate of interest to a record low. The move has been hailed as “inspired” by Chancellor Alistair Darling who says it is the answer to the nation’s problems during the recession.

“At a time when many people are struggling to pay bills, meet mortgages and are generally a bit skint then printing more money to be shared around is a move to be welcomed,” said Mr Darling. “It will be a boon to families and to business and to be honest I’m just surprised we didn’t think of it before. By next Thursday we will be the richest country in Europe.”

The Chancellor said that they would print off £5000 for every adult in the country and £1000 for every child. He added that if anyone needed a bit extra then they should just let him know although he couldn’t make any promises.

Printing money is not new for banks and indeed many have been doing it for years. Former RBS chief Sir Fred Goodwin printed a vast amount of it, around £693,000, just before he left his post.

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