The UK’s Chancellor of the Exchequer, Rishi Sunak, is borrowing £400 billion this year to combat the country’s worst recession in over 300 years. A £4 billion cut in overseas aid and a public-sector pay freeze will be among the early cost savings but the long-term economic damage is expected to last at least a decade.
What has gone wrong? We are assured that this was a natural disaster; that the COVID-19 pandemic was totally unexpected and that the government has done its best in the difficult circumstances.
This is fundamentally wrong.
