BobKowalski
Well-Known Member
- Joined
- 17 May 2007
- Messages
- 20,307
He was a good chancellor and made the most sweeping moves to ensure people didn’t go without during covid of any western leader with the furlough programme. He wasn’t exactly dealt an easy hand.
I’m just enormously glad the Tories seem to be going for someone that isn’t mental to take the reins. (Low bar as someone said)
Bold claim. In reality, Sunak was dealt the same hand all Western countries were dealt and implemented similar measures. Interestingly, the LSE did a comparison of UK and Germany furlough schemes, with the heading ‘Similar, but different?’.
This is not to knock the Govt or Sunak, but they did what they had to do because there was no other realistic option. In that sense, the decision to do it was a straightforward one.
LSE conclusion below. Notable that big business fared better under the UK scheme than in Germany - got to keep big donor‘s on side. In fairness, the very small in the UK also benefitted.
’Both the furlough and the business support schemes were implemented in very different ways in both places, and with diverging effects. In combination with other elements in the institutional set-up, furloughs schemes minimized unemployment but also, importantly, preserved high, specific skills in Germany while mainly acting as a short-term buffer to unemployment shocks in the UK. Small and medium-sized enterprises did well out of the loan schemes in Germany but not in the UK, while the very largest and smallest companies benefited in the UK but considerably less so in Germany.’