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Economic rulebook will have to be torn up to rescue small businesses and jobs

Richard Curran


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At risk: Small businesses such as hairdressers would suffer with social distancing

At risk: Small businesses such as hairdressers would suffer with social distancing

At risk: Small businesses such as hairdressers would suffer with social distancing

One of the most toxic elements of the coronavirus is that the road ahead never appears clearly with any obvious way forward. When it comes to the economy and what may lie ahead, the experts disagree.

We have already seen the economic devastation caused by the virus and the necessary political and social response to it, with more than half a million on the new Covid-19 unemployment benefit. There are a further quarter of a million people receiving payments from their employers through the Government's wage subsidy scheme.

Few now see a short, sharp shock followed by a rapid upward trajectory for economic recovery, as was predicted just a few weeks ago.