How do we escape the Covid trap? GDP has plunged. Huge numbers of people still rely on government support. The deficit has swollen far beyond the limits that any previous Conservative chancellor has ever dared go. The UK economy now faces a wide array of problems, questions and threats, not least from inflation, which threatens to return.
In the following pages, economic experts and policymakers take a close look at the problems Britain now confronts. The lead essay, by the former senior government adviser Vicky Pryce, looks at the twin challenges of Covid and—in case you’d forgotten about it—Brexit. Our Covid recovery will, she says, hinge on Britain’s ability to develop a constructive economic relationship with the EU. We need to do this, and fast.
Part of that will be a deal on financial services—Britain and the EU currently have no deal on that crucial issue. The consequence of that can already be seen in firms moving their trading activity from the City onto the continent. But, have courage. In a sparkling piece, Andrew Hilton of the CSFI explains why all is not lost.
Andy Davis is on hand with some ideas for investors. Where do you put your money in a recovery? As ever, Davis has the answers. Ruth Jackson has also been investigating the options for investors, especially for those who want to get behind green causes.
But there is a hard road ahead, especially for the chancellor. As far as James Murray, shadow financial secretary to the Treasury is concerned, Rishi Sunak has bungled the government’s Covid response at every turn. That may be an ungenerous view. But the politics of the recovery will be brutal, and the intensity of those debates will in turn shape economic policy.
The Treasury was willing to take drastic decisions as Britain went into the Covid crisis. It may well do likewise as we come out of it.
Download the full PDF here.
Contents:
Who will pick up the pieces of the post-Covid recovery?
The complexity of the crisis means we cannot change much until we plug the gaps
Vicky Pryce
Investing in the recovery
Coronavirus has made some dramatic changes to the investment landscape—many are here to stay
Andy Davis
Building better, greener pensions
When it comes to safeguarding your pension, the government is taking action
Guy Opperman
The pension rules that cost you
The government want intelligent regulations. It would do better to simplify them
Robin Ellison
Investing to help the planet
Ensuring your investments make a positive impact is easier than you think
Ruth Jackson
The government must do more to protect jobs
The chancellor has got the Covid crisis wrong at every turn
James Murray
What would an EU deal on financial services look like?
With European hostility at an all-time high, don’t bank on a fair agreement
Andrew Hilton
There's a tough economic road ahead
It’ll take more than tinkering to get us out of our current sorry state
Diane Coyle
The economic crisis: in numbers
Data highlights the global nature of the economic impact of Covid-19
Jay Elwes
A word from our sponsors:
Unlocking the investment potential of pensions
There is a real opportunity for the government to unlock a significant source of funds to help Britain build back better while helping improve financial security in retirement for millions
Maria Nazarova-Doyle
Together we shine
We strongly believe that collaboration and working together is the best path to shared success
Joe Moynihan
A centre of green finance
Jersey continues to play to its strengths as a well-regulated and responsible international financial centre
Ian Gorst
