Reply To: Coronavirus research update

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At this time we’ve all got to work extra hard at seeing the other side of the coin as there are so many unknowns, so many variables and so many choices to make.

From an individual aspect clearly the preservation of life for oneself and one’s loved ones is paramount.  But, stepping back from that perspective, there is a recognition that however careful we are there WILL be a large number of deaths from the virus and ultimately we will all be exposed to it, so that being the case, how much disruption to society to we accept and for what level of benefit?

Those of us that run businesses or operate in the political arena need to make those fine judgements on limited information, while the general population seems to be running around like insane headless chickens, simultaneously ignoring warnings to wash their hands but buying out the local Tescos of loo roll, and expecting everything to stop in its tracks and the government to bail us all out by borrowing billions.

I am exaggerating for effect, but at some point we have to realise that some difficult decisions will have to be made, and we may not all be comfortable with them, but the people making them are human beings trying their best on limited information.

Also, a point made earlier about the banks.  Most high street banks have unilaterally offered mortgage holidays for individuals and small businesses.  If you are affected and worried and have a mortgage, contact your bank.  They will probably be able to help until you get back on your financial feet again.

The deaths are one thing and not to be minimised (I personally have asthma and have elderly parents, so am somewhat perturbed about the possibility of contracting the disease.  I am certainly not minimising the impact on individuals), but if too many businesses have gone bust in the short time because we have all had to bunker up for 3 or 4 months, then that will compound the situation, and the deaths may well likely still happen anyway.

We need to be very, very cautious about closing down economic activity too far and too fast to unless we are incredibly clear about the point, as we risk those businesses not being around when it comes time to reopen the stores, and then we will be in hock up to our eyebrows as a nation and now way of paying our way out of it.  Which would make the last 10 years of austerity, and its impact on the lives (and deaths) of many look like small beer in comparison.  Those of us old enough to remember the dark days of hyperinflation in the 70’s and having to call in the IMF for a bail out and all that followed from it, will not think this risk is one to be taken lightly.