The economic, and social, damage being caused by coronavirus is becoming clearer by the day. In the UK, we had the news on Wednesday that 850,000 more people than usual have applied for universal credit in the past fortnight. Across the Atlantic, the number of jobs lost in the last few week is approaching 10 million – that’s more than were lost in the Great Depression.
This economic news underlines the need for an ‘exit strategy’ from this crisis. The lockdown is right at the moment; it appears to be the least-worst way to keep this virus within the NHS’s capacity to deal with it and so save lives. But, equally, it is clear that if this lockdown goes on until the autumn, then the unemployment rate will have risen to a shockingly high level and we will be on track to be a permanently poorer country. This will lead to more deaths in future as we won’t be able to afford the level of healthcare that we currently have.
One exit strategy – being pushed by Jeremy Hunt in particular – is a ‘test and trace’ approach akin to the one they have taken in South Korea.
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