Saturday August 15, 2020

An impressive stimulus, but normality can only return with public confidence

It may just be half time in the war against Covid-19. If that is the case, last week’s stimulus will have been in vain

26th July, 2020
It is a necessary act, and in many ways an admirable one. It targets the right things – the preservation of employment and the maintenance of credit to businesses

The economic devastation caused by Covid-19 becomes clearer by the day. Across the country many businesses, especially in the hospitality and retail sectors, remain closed. High streets are almost deserted, and tourists are absent. Airlines are flying at a fraction of their capacity, and the airports resemble ghost ships.

This is the backdrop against which the government announced its stimulus package last week. In what is the single largest injection of assistance ever given to...

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