Express & Star

Express & Star comment: Solid B for economic response

If the Government was being graded between A and E for its economic response to Covid-19 it would score a solid B.

Published
Chancellor Rishi Sunak vowed to do “whatever it takes” to help the economy

Chancellor Rishi Sunak has been the Cabinet’s most confident and credible performer during daily Downing Street press briefings. His furlough scheme helped to save millions of jobs and the administration of it appears to have been as smooth as might be expected.

A loan scheme for businesses has been less successful, with many unable to access funds. The Chancellor is not entirely responsible for that – too many banks have sought to provide commercial products rather than operate within the spirit of the Government’s plans.

There are many areas, however, that the Chancellor has been unable to address. While he has repeated his mantra that the Government cannot save every job and every business, a great many people and companies are falling through the cracks.

It is not just individuals and companies that are hurting. The charity sector has seen its income dry up as people have stopped donating and regular sources of income have come to an end. Money from charity shops and sponsorships from such mass participation events as the London Marathon are no longer coming through.

The Government has sought to provide some assistance, pumping millions into a sector that includes many health charities. However, it is far too little to cover once-in-a-lifetime losses and the position for some organisations is so perilous that they may fold.

We are heading towards the late spring and early summer, a time when many people look forward to being outdoors. They attend festivals and sporting events, many of which provide huge incomes to charities. This year, that income will not be available.

Even when shops re-open as the Government gradually eases lockdown, the modest income received will be insufficient.

We can do our bit, of course. Just as people have stepped up to the plate to support the NHS by staying home, so they can look to organise other events that support local charities.