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August 14, 2020

Lockdowns not a sustainable strategy, say economists

By Paul Dennis

14 August

The economic impact of the Covid-19 pandemic has thrown the UK into one of the worst recessions in history.

Trinh, senior economist for emerging Asia, tweeted on how lockdowns are not a sustainable strategy.

She shared statistics comparing the impact of lockdowns on Sweden and the UK.

Sweden did not have any lockdowns but had control measures to handle the pandemic. Though the country’s economy was not impacted as much as the UK, it has one of the highest death rates related to Covid-19.

The UK comparatively had one of the toughest lockdowns and a similar death rate, while the economic impact was devastating.

Rob Gill, managing director at Altura Mortgage Finance, shared an article on how there is no trade-off between people’s lives and economic growth.

However, the poor handling of the lockdown measures in the UK has badly affected the country’s economic performance.

Three policies were recommended in the article including the extension of universal credit to support the unemployed, provide retraining grants or funds to start a new business and creation of more public-sector jobs.

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