To be fair, the economy is service driven, so a lot of that can be done remotely quite well, but we're also a global hub, so the complete shut down of international travel will have had a major impact, both on business and tourism.
Current Affairs Coronavirus Thread - Serious stuff !!!
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To be fair, the economy is service driven, so a lot of that can be done remotely quite well, but we're also a global hub, so the complete shut down of international travel will have had a major impact, both on business and tourism.
Im all for nuance and context, and looking at how economies are differently balanced between nations, but sometimes the headlines speak for themselves.
Highest excess deaths and worst economic downturn, with a bigger unemployment hit around the corner when the furlough scheme ends.
A government talented in distraction, division and misinformation, but utterly unskilled in decisiveness, innovation or communication.
Tipp blue
If I agreed with you, we’d both be wrong.
The WHO advising against non essential dental care such as check ups, Dental checkups are important in the detection of oral cancer's. The true impact of our reaction to this virus is yet to be seen, I have my doubts that future generations will look at what we've done as a blue print on how to deal with a pandemic.
In my opinion targeted protection of the vulnerable targeted protection of nursing homes and care homes and let the rest of us get back to living and take our chances with a virus that in the vast majority of people is less worse than the flu.
In my opinion targeted protection of the vulnerable targeted protection of nursing homes and care homes and let the rest of us get back to living and take our chances with a virus that in the vast majority of people is less worse than the flu.
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I'm just not sure, from an economic perspective, what they could have done to keep GDP going. They were broadly praised for the furlough scheme etc., but GDP requires people to actually work, so surely we aren't suggesting they should have been doing more to get people to work?
orchard
Player Valuation: £60m
Less taking it on the chin and shaking hands with the infected, more action from the government to control the spread, locking down earlier, shorter and properly.
Why are people shocked at the recession figures. We still haven't opened up large sections of the economy 5 months on. The figures were always going to be horrific.
You can't support continued lockdown restrictions and also be aghast at a deep recession.
You can't support continued lockdown restrictions and also be aghast at a deep recession.
Take it more seriously from the outset. Lockdown quicker. Communicate the restriction rules better. Get effective testing procedures in place more quickly. Mandatory mask wearing early on. Not break and undermine their own lockdown rules.
These could have helped control the virus, reduce the R number and enabled safer return to work sooner, and even if GDP had still tanked it would at least have saved lives. They’ve failed on both measures.
The schemes in place were aimed at protecting those not in work, not about job creation, so it's inevitable we saw these figures.
I'm no economic expert, but it's basic stuff that if you shutdown large swathes of your economy, then you'll have a deep recession.
Indeed. I've seen various reports on relative economic vulnerability by nation, and most of those at the top end seem to be those predominantly manufacturing driven, so it's interesting to see Britain doing so badly. I don't really know why that is, but would be interested if there has actually been any proper analysis done.
Some would have us still locked down too.
I haven't saw that much other than the main headlines, but I heard on the radio that the worst hit area is the services sector and it's very large in the UK.
It's a weird scenario because we are in a huge recession, yet quite a lot of the population have a pound or two in their pocket that they would be willing to spend. People's spending is down because places were closed, people aren't going on holiday, less commuting costs etc, so it doesn't seem that unreasonable to me that we could have a decent recovery next year, virus permitting.
It all depends largely on how many jobs we can save though. If people are worried they could be laid off, they are going to be cautious even if they have some money in the bank. We need people to return to work, then things can start to improve.
People just don't realise that actions can lead to unintended consequences. It's all been a balancing act because there are no ideal solutions.
The measures to contain the virus will inevitably lead to economic disaster. Yet the measures needed to get the economy running are likely to make it easier for the virus to spread.
People say it's wealth v health, but it's not because they are so closely linked. There has to be a balance to the decisions. My opinion is that we are now at the stage where we need to accept we'll have to learn to live with the virus to protect people's livelihoods.
Billy Dean
Player Valuation: £70m
I`ve read that collectively the hospitality industry employs one in nine people across the board in the UK.
If you combine the job losses there with the job losses in the service industry, then it`s hardly surprising that we`ve gone into recession.
NilSatisOptimum
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20,00 dead was the good result we were being told in the first days of full lock down in those daily briefings now at 46,000 dead according to official figures, while also suffering the continent’s second-worst excess death count per capita, more than double that in France and eight times higher than Germany’s. Our Government and its state it presides over simply did not protect its oldest and most vulnerable in our society.
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