The official economic data for the first half of 2020 is out, and according to the ONS there is only one country in Europe that Britain has not had a deeper recession than in the first half of the year. Spain. Now guess which two countries has had the worst deaths per million from Covid-19? […]

No time for fiddling while Rome burns



The hedge-fund Chancellor knows how to grab the front-pages. £10 per head for a meal out, but only in August, and only on Monday-Wednesday, is novel. The Rishi-burger is indicative of the kind of gimmicky, short-term, consumption-heavy and corporate-subsidy laden approach of the Chancellor’s announcement. As The Guardian’s economics commentator Aditya Chakrabortty pointed out, it’s […]

Who wants a Rishi-burger?


Do you know about the Covid Corporate Financing Facility? Well, don’t beat yourself up if the answer’s ‘no’, very few do. You’ll find it scarcely reported in today’s papers. In fact, the Bank of England at first wanted no one to know about it – they sought to give out public money to corporations in […]

The corporate bailout you’ve never heard of



“As tourism has been one of the sectors hardest hit by the pandemic, so it will likely be one of the sectors most difficult to reopen.”

On Your Marks, Jet Set…


“The economy is not some mechanistic computer that can simply be turned off and on again so we should be prepared for a substantial amount of rebuilding as we come out of the crisis.”

Turn it off and on again


A flurry of forecasts of economic doom arrived yesterday, though there’s good reason to think they were over-optimistic in their doom-mongering. The IMF have predicted a 3 per cent slump for the year globally, presuming the world can get out of lockdown by summer without a second spike. In the UK, the Office for Budget […]

Forward to the hibernation economy


An important study was published yesterday from Bristol University on the possible economic repercussions of the Coronavirus lockdown. It found that a fall in GDP of more than 6.4 per cent could lead to more deaths than will be saved through beating the virus. “I’m worried that in order to solve one problem we’d create a bigger […]

It’s our health, or their markets