Will Covid19 make Britain a fairer place?

 

Screenshot 2020-03-22 at 06.45.46

There are signs that the pandemic has jolted Britain out of the lethargy that has persisted since the last economic crisis. In this blog, I simply reprint  the comments of Torsten Bell , CEO of the Resolution Foundation, which themselves are comments on an article appearing in the FT. The gist of the article is in the title of this blog, but its substance is in the realisation of the social injustice that is becoming apparent because of this crisis. Literally the crisis is realising  for middle class intellectuals what has been apparent for poor people for many years.

The FT is a serious newspaper , a shift in its position on economic and moral matters is in itself “newsworthy”

Political decisions are now being driven not by the impact they will have on public sentiment but by scientists warning of potential catastrophe. For the first time in my lifetime, Britain seems to be on a war footing.

This formulation “lives and livelihoods” makes sense to individuals. In the immediate few months we will face the prospect of not living, thereafter the emphasis will consider a new post Covid world. At some stage there will be a realisation that we have an 80% chance of being infected.

 

So although it isn’t business as usual, we need to behave (economically) as if it were. Simple things like continuing to invest in pension plans are a part of this. We have to live not just to survive the present but to ensure our future livelihoods.

It has taken this crisis for Government to realise the inadequacy of our social security as a safety net. While the Government’s underwriting of wages is temporary, the FT suggests the upgrade in benefits won’t be.

 

It is easy to make political points here; yes- much of this looks like the Corbyn blueprint, but I think it very unlikely that even had Labour won, there could have been a consensus in the country behind these measures. What the Government is doing is embracing collectivism, while it has the chance. For the first time this century, the phrase “one nation conservatism” has some meaning.

blindfold

About henry tapper

Founder of the Pension PlayPen,, partner of Stella, father of Olly . I am the Pension Plowman
This entry was posted in Conservative, coronavirus, pensions. Bookmark the permalink.

Leave a Reply