The recovery in the UK economy is already taking shape nicely – and the shape looks increasingly like a ‘V’, where activity 'bounces back’ quickly and returns to more normal levels much sooner than most currently expect. Despite this, many commentators are still pessimistic and even eager to emphasise the downside risks. It is time … Continue reading ‘V’ for recovery!
Many people are increasingly worried about the slow pace of school reopening in the UK. The focus has mainly been on the harms done to the welfare of children and their families - well expressed here by the Royal College of Paediatrics and Child Health (RCPCH). But there are also rising concerns about the wider … Continue reading School closures carry a heavy economic price
Rishi Sunak is having a relatively good crisis. The Chancellor and his team certainly deserve plenty of credit for the way the Treasury has shielded the large majority of businesses and jobs during an unprecedented slump in economic activity. But this task has been made easier by the broad consensus on the appropriate policies and … Continue reading Now is the time for the Government to make the bold decision to do less
The focus of economic policy is starting to shift from protecting businesses, jobs and incomes during the lockdown towards supporting the recovery. Business lobbies, ‘big state’ think tanks, academics and the TUC are all lining up to call for a huge fiscal stimulus. However, more intervention now could be exactly the wrong choice. Instead, we … Continue reading The economy could pleasantly surprise us at how fast it recovers