Job losses

Job losses are spreading much faster than the virus. The spread of the first is helping impede the spread of the second, so while this surge might be unprecedented it should not be surprising. Government policy is to close down employment-heavy sectors such as hospitality, so it’s almost automatic that we see “by far the fastest downturn in service sector output” on record. … [Read more...] about In the coronavirus jobs wipeout, the young and low earners suffer most

The EU policy, backed by the Greek government, has led to thousands of refugees and migrants being trapped in unacceptable conditions on the Greek islands. Last winter this confinement to the islands and mismanagement led to the loss of life. There has been no meaningful investigation to establish responsibility for these deaths. The failure to provide adequate camp facilities or the structures and rules needed to properly administer the refugee population belongs in part to Mouzalas. … [Read more...] about Europe’s top human rights job deserves better. We urge Greece to choose again

No 11, one assumes, wanted to limit the risk to the public purse, a noble intention on the face of it because the government is on the hook for 80% of any loss of a Cbils loan. But the requirement to assess firms’ eligibility for conventional finance meant Cbils wasn’t having an impact. By Thursday night, only £90m of loans had been approved to 983 businesses – barely scratching the surface of the problem. … [Read more...] about The flaws in Sunak’s emergency loans plan suggest he isn’t Superman after all

The Cabinet minister said it was right to put the UK into lockdown to limit the spread of the disease, even though it meant spiralling UK debt, as you cannot 'put a price on lives'. … [Read more...] about Coronavirus crisis could push unemployment levels in UK and US beyond record numbers of the 1930s Great Depression, warns leading economist

The Chancellor has rightly put substantial support in place, but there is no case for taxpayers to take a stake in struggling fashion chains or even most airlines. The anger that greeted Arcadia’s use of the furlough scheme last week shows the public will be watching how the bail-out task-force invests their money. … [Read more...] about Britain must bail out its most vital companies and give the rest more flexibility