Larry Elliott on what’s happening next

The growing debate about whether, and when, to start letting people back to work, reveals an agonising dilemma for the Government. How do you save lives without causing a total economic collapse? We at LSS will listen to both sides with the utmost empathy, as is our Duty on this blog.

For a look at the awful economic problems which confront the Government, you could do worse than go to the writings of Larry Elliott of the Guardian. He has always been one of the most fair-minded and independent economics journalists whom we have come across. Once again, we shall link his article below, and precis the main points for those rushing off to the office. (who they?-ed)

He advises:

-To all intents and purposes, the economy has collapsed

-Past recessions have tended to concentrate on one section of the economy; this collapse is system-wide

-There is little sign that bounce back will be rapid; the damage is already too deep, and health restrictions will have to continue in some form

-Falls in wages and employment levels will make consumers exceedingly cautious as we move into the autumn

He concludes “The aim now is to avoid a great depression”

https://www.theguardian.com/commentisfree/2020/may/07/snapback-uk-economy-lockdown-recession-coronavirus

#LarryElliott #GuardianBusiness #RishiSunak #depression #covid19

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