The questions facing the monetary authorities are: whether this huge increase and level of credit is a) working to keep economies growing; b) whether it is necessary any more given the supposed recovery in economies as the pandemic ends; and c) whether it is increasing the risk of a financial crash unless action is taken to curb QE.

The head of a hydrogen lobbying group has stepped down amid concerns that blue hydrogen made from natural gas would serve as a “lock-in” for fossil fuels.