Covid has made us poorer and increased wealth and educational disparities. Optimism alone cannot fix this
Optimism helps get us through tough times, and the Covid pandemic has had plenty of those. The recent reopening of the UK economy has provided grounds for optimism, with firms hiring at a swift pace. But wishful thinking can be dangerous and, when it comes to the economic legacy of this crisis, there’s far too much around.
The coronavirus crisis has cost tens of thousands of lives, and everyone understands its negative health effects will last, from long Covid to an overstretched NHS. But on the economy, despite driving the deepest downturn for 300 years, people seem desperate to believe the pandemic will help the UK overcome some of its deep-rooted challenges. Apparently it will help us level up by closing regional gaps, give low-paid workers the respect – and pay – they deserve and save the local high street.