Even avid free-marketeers see that only state money can get growth starting, but the chancellor is abruptly running scared
A consensus has emerged that the only route out of the lockdown is with government money. From all the regions of the political divide there is support, offered reluctantly in some quarters, for the idea that merely state-funded organizations will have the financial muscle and the will to set the wheels of the economy in motion formerly the pandemic has receded.
Private-sector companies emerging from the deep freeze will need to tiptoe before they pass, hence the Royal Society of Arts and Manufacturing’s proposal of an initial three-day week. Theirs must be a slow re-emergence, seeing physical distancing.
This is a Tory government, so the best Sunak can do is still worth something
Read more: theguardian.com