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Hospitality calls for more support from Omicron hit
Cut back on socialising, says Whitty, as he predicts surge of hospitalisation
As cost of food and fuel soars, is there an appetite to raise UK interest rates?
The government should introduce a targeted furlough scheme to help firms hit by the current Covid-19 wave, argues the Resolution Foundation thinktank.
It points out that hospitality and leisure firms will lose customers, and employees will lose their jobs, whether new restrictions are imposed or not.
Whatever the imminent cause of that economic pain, the right policy answer is to provide targeted economic support. Reviving a more limited version of the furlough scheme is the easiest way to do that and protect household living standards.
Going into another Christmas with a wave of the pandemic beginning isn’t what anyone wanted, and nor is more spending on economic support than the Treasury had in mind. But those worst affected by this wave are no less deserving than those hit by previous waves. And, unlike then, we know that boosters offer us a way out of this mess in the months ahead. The past two years have taught us that economic policy can make a huge difference, it’s time it did so once again.
“We now surely don’t want to get into a situation where the Government’s investment last year is wasted because the sectors that it has supported collapse in the new year.
“We need to see short term finance, we need to see loans, we need to see VAT looked at again, we need to see business rates looked at again.”
“Undoubtedly there will be many places that close their doors for Christmas and don’t reopen.”
I appreciate the balanced approach taken in this article.
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