From theguardian as well:
Last edited by JRPGfan - on 12 April 2020
"When this outbreak first began, all the talk was of a sharp but mercifully short economic sting in the tail. The downturn triggered by putting everyday life on hold to halt the infection should, we were told, be V-shaped: a shock, but one from which we’d soon bounce back. Like many comforting predictions in the early days of this pandemic, that is beginning to look alarmingly over-confident."
"The first problem with picking up exactly where we left off is that where we left off was already in trouble."
"we may have been teetering on the verge of a recession, as business confidence dried up in the face of a potentially hard Brexit. The fear is that the economic aftermath of this crisis, like the virus itself, might be toughest on those with pre-existing conditions - including otherwise thriving western countries choosing this moment in history to shoot themselves in the foot."
^ basically Britain already had "pre-exisiting conditions" with reguards to its economy.... before the Corona virus hit them.
They also were very late to shut things down (because they believed in herd immunity at the start of the outbreak), so the UK is weeks behinde other nations, in fighting this thing off (and thus likely have to stay closed up for even longer).
"Yet the trouble with calls to ward off economic disaster by risking an early end to the lockdown is that, in a sense, it’s too late for that now. If the country had been shut down right at the start, when there were only a handful of cases in Britain and influential voices were still scoffing that this was just a touch of flu, there may have been public outrage at a perceived over-reaction, but we might now have had the luxury of wondering whether we could afford to ease off.
As it is, there was something almost surreal about a No 10 press conference that saw journalists asking when we might be allowed out again while the death toll was climbing towards 1,000 a day. We are nearing the moment of maximum danger, the moment hospital chiefs hold their breath and even atheists in Whitehall start praying. The blunt truth is that nobody is going anywhere, possibly not for months yet, if we want to keep this infection within hospitals’ capacity to cope. So if we can’t cure what directly ails the British economy any time soon, the only option is to try and improve its underlying condition. "
"if the lockdown lasts into early summer, a similarly big ideological leap of imagination looms over Brexit. For the first time, according to a YouGov poll, a narrow majority of Britons now want to extend the transition beyond December, suggesting the last thing many voters want right now is another economic shock. For now, Boris Johnson’s administration is clinging to the pretence that a complex Brexit deal can still somehow be negotiated in the middle of a national emergency that has put the prime minister in intensive care."
You guys have to remember:
Brexit didnt go into effect until Jan 31st 2020. (realistically it hasnt yet, first dec 31st 2020)
Also theres a 11 month long transition periode, granted the UK (in the deal).
So once this corona virus outbreak is gone, the UK is gonna have to deal with all their trade deals falling apart (dec. 31st 2020).
Good luck trying to get the economy back on track in the UK.
Its hard to "invest" into production (build new plants / create jobs), if you know your gonna run into issues selling things, soon after.
Reminder, before the UK joined the EU, their ecomony was in huge trouble (its why they joined).
They got farvorable deals, to help them get their economy back on track, and kept those all the way to they left.
They have a huge "service industry" and "financial industries" that are dependent on the EU allowing them to do bussiness the way they have, and these allowances are bound to fall by the side, once they are out of the transition periode. Its a no brainer, their economy will suffer a hard hit, because large amounts of their money are made from un-sustainable bussiness (once they leave).