Keep Spending & Protect the Economy. Or Cut Spending and Destroy People's Jobs?
Keep spending and protect the economy or cut spending and destroy people’s jobs? That’s the dilemma.
I have some sympathy with the view that online shopping during the corona virus is a bad thing. But I think it is a naïve, short- sighted view.
Many people don’t seem to realise that COVID-19 is here to stay - like Mumps, Measles and Winter Flu. It isn’t just going to go away once the restrictions are lifted. It is an infectious disease we need to learn to live alongside, and quickly.
Even if Britain was able to completely eradicate Coronavirus (impossible in fact) it would return within days once global air travel resumes.
The live animal markets in countries like China and Thailand still exist, and in other countries thousands of people gather together to pray ‘healing verses’ to protect themselves from the virus, like these 30,000 in Bangladesh. They are not exactly social-distancing are they? What we do here in the UK to slow the spread of coronavirus, is not necessarily practised elsewhere.
The more people stop spending now, the worse the recession and mass unemployment will become. A primary cause of recession is a drop in consumer confidence and spending. There’s huge concern at Government level over the economic impact of the lockdown. The consequences will be enormous. The Treasury thinks that GDP could fall 14%+ in the next 3 months, leading to extreme poverty and ultimately to the premature deaths of more people than the virus will have claimed, from the worst recession in history.
If you stop spending, be very aware of the damage you are causing to the economy and to people’s jobs. More than 2 million people will lose their job this Spring, even more than that if we sit on our money.
Yes, shop workers, warehouse staff and delivery drivers need to be properly protected, but this needs to happen right now, not some time in the future when the economy is on its knees with many millions unemployed.
Interestingly I spoke to my postman yesterday, who saw me on the drive. I said you must be busy like at Christmas. He said actually there’s much less business post, and it’s helpful that these days people are ‘in’ to accept delivery, as it means he needs to fill in fewer cards. He said there are more packages and parcels of course, but that he can get about much faster with less traffic on the roads, and that he’s very happy to still have a job.
Join for free to get genuine deals, money saving advice and help from our friendly community