I am beginning to worry that there may come a time when there will be a need for a more nuanced message – but the public won’t be willing to hear it.
Hopefully it will be crisis averted, and we’ll have a bit more time to fix the hole. But sooner or later, difficult choices on tax and spending are coming.
It should remove those taxes and regulations that will stop business from applying their ingenuity on the problem of rebuilding from the ruins.
We don’t expect the shutdown to last in full until summer. But if it did, Britain might well be moving towards Universal Credit as a basic income.
I’ve faith that people are focused on that bigger picture, which drives reported levels of understanding and appreciation, if not necessarily popularity.
Absent a clearly articulated strategy business uncertainty will heighten, and severe non-compliance is risked
A common threat, especially in the form of a pathogen, flicks switches in our brains, making us less tolerant of dissent.
If employers consider themselves to be heading for catastrophe, it suggests that the wider public will catch up before too long.
Two extreme versions of what happens next in Britain. Events are more likely to end up somewhere in the middle.
The theoretical aim of policy then should be bridging over what is hopefully a short pause in activity – eliminating near-term distress for households and businesses.
The implications of the crisis are such that Johnson and Sunak need not so much to think outside the box as to trample it to tatters altogether.
It may be necessary, given the Coronavirus, and could even work. But Britain has a long, long record of state spending failing to turbo-charge growth.
The Chancellor’s measures leave us well prepared to tackle its short-term challenges as well as helping to shape the long-term trajectory of the economy.
We can’t continue to favour projects such as Crossrail over developing infrastructure in other parts of the country which generate much greater relative returns.
A home-focused industrial policy hardly saved China from this epidemic. And openness and markets ensure diversity of supply – particularly in medicine and food.