Boris is trying to put a positive spin on the reality which is we have about 4 months of sheet ahead where it's up to the olds to decide if they want to live or die.
Even if he is out of his depth with the science he's doing his best to be seen to be captain.
I don't think we can expect more of him as figurehead.
I ain't no economist but 4 months of supporting grossly reduced incomes for a big slice of the population is the price we have to pay, and pay willingly IMO so that businesses are ready to jump back into action as the infection rates fall at the end of the summer.
Failing to do this will have horrific stories of rapid mass unemployment requiring direct support anyway, people starving, mass foodbank use, and destitution unbecoming the world's 5/6th largest economy, as well as months of economic stagnation.
There will be inflationary consequences, no doubt, but we'll get than by QE as we did previously with only indirect benefit to those who are struggling.
|