Lockdown

Covid deaths fell to 17 on Sunday, the lowest daily figure since 28 September and no higher than the levels being recorded throughout much of last summer. Deaths are down over 40 per cent on the week, hospitalisations down 21 per cent. Yet the better the news on vaccinations and serious illness, the longer the road seems to be out of lockdown. The latest potential roadblock seems to be the threat of a third wave in Europe. The Prime Minister said this lunchtime: ‘On the Continent right now, you can see, sadly, there is a third wave under way. And people in this country should be under no illusions that… when a

The boomers are eating their grandchildren. They don’t see it this way, of course, but they are doing it nonetheless. Covid, or rather the British state’s response to the pandemic, is just the latest evidence of this. Whatever you make of Boris Johnson’s handling of the pandemic, one thing is clear: the cost of lockdown will be funded by young people in taxes for years to come. But it will most of all be paid for with time. We can find ways to minimise the impact of the government debt, but we can’t give people a year of their lives back. It is a natural part of history that good

Last week The Spectator highlighted new data from the OECD that offers a weekly update comparing a country’s current GDP levels to the previous year. It continues to show the UK experiencing some of the highest levels of economic damage. If you factor in lockdown stringency, you can also make out a rough correlation between countries under the strictest lockdowns and countries taking the biggest hits to GDP. Just how reliable are these calculations? A cross-check between the OECD data and the Office for National Statistics’ monthly GDP update would suggest it’s pretty spot-on, if not slightly more positive. Today’s update from the ONS shows the economy to be 9.2

Schools in England have gone back today, with pupils taking lateral flow tests and being asked to wear masks in order to keep the risk of infections as low as possible.  Today Boris Johnson held a special press conference to mark what he described as an ’emotional’ moment in the exit from lockdown. He said that the ‘overwhelming feeling is one of relief’ and that the ‘greater risk now is keeping them out of school for a day longer’.  There are rumblings about whether the current plan for lifting restrictions is sustainable He praised teachers for getting schools ready and for teaching throughout the lockdown period, and parents for homeschooling

Rishi Sunak’s planned corporation tax hike is a reminder of the importance he sets by trying to put the public finances on a sounder footing. He think that his room for manoeuvre in this crisis has been, in part, because the public finances were in reasonable shape before it.  The vaccination programme remains this government’s most important economic policy As I say in the magazine this week, his concern about debt has long been about the cost of servicing it (which remains low) rather than its precise level. But the debt pile is now so large that small movements in interest rates have big consequences. But straightening out the public