INDEX Friday February 6, 2021
The slump dominates the news
A subtle change has taken place in the reporting on Radio 4. For the last year it has been dominated by the virus, Covid 19. This was so marked that when the country moved out of the single market at the beginning of the year, it was hardly remarked upon.

So what are they talking about now? Suicides, poverty, joblessness, deprivation, family breakdown, depression, mental illness and a lost generation of children who no longer have a career path. All caused by the reaction to the virus. We will still be talking about these things in five years time.

Despite the whistling in the dark of the Bank of England, who are currently trying to talk up the economy, the reality is that we are in for a slump such as only nonagenarians have seen. What is really going on is evident from reports like 60% of bounce back loans may never be repaid.

That's bad news for the taxpayer but the point of those loans was to keep companies going, to keep employers employing. Clearly it did not work.
Posted by Jonathan Brind.
Friday February 6, 2021