Petition Bail out the people, Kick start the economy

Instead of keep bailing the banks out why not bail the people out, My idea is to give everyone on the electoral role a tax free cash amount of between £20000 - £35000 in the form of a chip and pin card. This money will be allowed to pay off personal debt which must be paid off before allowing spending, towards mortgage repayments, house deposits, and to spend in UK registered companies. NOT Savings as this would defeat the objective.
This money would have to be spent in a set time (3 months) so the economy would benefit from a sharp shock and the VAT & Tax the government would get would offset some of the out lay