After moving to reassure businesses first, the government must offer support for renters and workers, says the Labour leadership contender
For many in Britain, quite how radically our lives will be impacted by the coronavirus pandemic is yet to fully sink in. The government has already moved to reassure businesses with emergency measures – but a growing number of workers are waiting for comparable support. The policies already announced might help workers indirectly, for example if businesses take out government-backed loans to keep their staff on the payroll, or if landlords take advantage of the moratorium on mortgage payments to suspend demands for rent. But both of these would amount to trickle-down support at the whims of bosses and property-owners – rather than a condition of state support.
Already the government appears aware of the shortcomings of its initial economic response, hinting that direct support for renters and workers is on the way. So it seems as relevant as ever to argue that now is not the time for tinkering around the edges, but for big ideas. The chancellor ditched Tory economic orthodoxy to help business through this crisis, so he must be prepared to do the same for workers and the self-employed.
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from Property | The Guardian https://ift.tt/2QnohRC
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