Published: 19th Mar 2020

In a time such as this, our first thought must be about the immediate and distressing public health consequences of coronavirus. In trying to pull together a position on economic development, the Institute of Economic Development (IED) is not making light of that situation. It is also clear that health outcomes will continue to deteriorate before they get better. The IED has deliberately delayed any response to the economic impact of increasing social restrictions until after yesterday’s statement by the government, and especially the Chancellor’s update. We stress that the IED is a non-political Institute and the government is undertaking policy to work in the national interest. However, the IED made a cautious welcome to last week’s Budget, and we give a similar welcome to the measures announced yesterday. The immediate response It is clear that the government is seeking to protect the travel, hospitality, retail and leisure sector, all … (To read the full article, subscribe below)