A bold strategy, Cotton – let’s see if it pays off
Rishi Sunak has urged home workers across the UK to go on a spending spree when the coronavirus pandemic ends.
The Chancellor believes this will be key to kickstarting the economy, which has suffered greatly as a result of Covid-19.
According to a report in The Telegraph, Sunak told Conservative party members last weekend during an online meet that he “felt good” about the UK’s chances of bouncing back from the current economic downturn.
He said: “I feel good about the bounceback – I think people have been sitting at home, building up some savings hopefully and we would like to go and spend them when we get back.”
Sunak also told Tory party members to have patience with the government’s lockdown measures – even if they are ideologically opposed to the restrictions.
The Chancellor added: “It is very difficult for us. We are Conservatives, we believe in freedom. This is very difficult but this is unfortunately necessary at the moment – we have just got to get through these next few difficult months.”
Rishi Sunak was, of course, the man behind the government’s now ill-fated ‘Eat Out To Help Out’ scheme. Launched in July when restrictions were eased in the UK, it was aimed at helping the hospitality industry recover from the first six months of lockdown.
However, as cases of Covid-19 began to spike, the scheme began to draw criticism. Research from the University of Warwick found that between eight and 17 percent of second-wave Covid-19 cases could be linked to the reopening of pubs and restaurants.
Last week, Sunak announced that the 2021 Budget will be outlined at the beginning of March. In it, the Chancellor is expected to reveal further government measures aimed at tackling the impact of the pandemic. The furlough Job Retention Scheme has already been extended until the end of April 2021.