the global investor
Health and Wealth:
The Covid Crisis Covid-19 has to be the worst health crisis humanity has faced, perhaps, since, the Spanish Flu of 1918. Many of us right now, will be furloughed, working from home or even, unfortunately, having to claim Universal Credit.
Some are predicting mass unemployment in the wake of COVID-19. Rishi ealth, of course, is para- Sunak has admitted there could be a mount, but another equally recession, in an interview with BBC's important thing, for many, is Laura Kuennsburg. While not saying it will be the worst economic downthe economy. turn in a long time(as some have preMany are asking, how is COVID-19, dicted) Sunak, for his part, was not affecting the economy? Many busiencouraging in his words, either. nesses are temporarily closed and some smaller outlets have closed The nation has endured 10 years for good. Of course, large busi- of austerity, before, COVID, took nesses like the pub-chain Wether- effect and the lockdown began on spoons, for example, will be able to, 23 March. Obviously, with the govmuch better, weather the economic ernment's austerity programme, it downturn. The owner and founder has been the poorest, in our sociof the UK pub-chain, Tim Martin, ety, which has been the hardest hit. wants to re-open in June. Whether The government have two choices, this will be practical in reality, along to balance the books, in a certain with other pub, restaurant and cafe event, of a recession. The Johnchains, remains to be seen. How- son government may have to reimever, it would appear now, that such pose some sort of austerity or raise outlets may be allowed to open in taxes on the highest earners. Cera limited fashion, if phase 3 of the tainly, when appearing on BBC's, government's lockdown plan, goes 'Question Time', former Chancellor, George Osborne, said the according to plan.
Nicholas Bishop reports
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government may have to consider either option. When Fiona Bruce, challenged Mr Osborne, over the 10 years of austerity, instigated by the Cameron government, he was a member of, Mr Osborne, replied, "At the time, it seemed the right thing to do". Certainly, if either option is necessary, the government will be on a losing wicket with many sectors within the British public. For example, if austerity is re-imposed, it will again, hit the poorest in society, already reeling from the last 10 years of cuts. If higher taxes are imposed, on the better off, then politically the Conservatives could find themselves damaged in future elections. On a political note, according to the latest 'You Gov' poll, Labour leader, Sir Keir Starmer, is already 1 point ahead of Boris Johnson, based solely, on both men's appearances and performances, at Prime Minister's Question Time. The survey
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