As the public debt soaring past £2 trillion and millions of Britons unemployed, read my thoughts on how the economy has been wreaked by coronavirus lockdown and what it means to your health and happiness.
By Anne Welsh – Founder and CEO Painless Universal
May 21st, 2020
Anyone living with chronic illness will tell you that when you are sick the biggest concern you have is the economic worry and stress after you get through the pain. Many employers don’t understand the pain of the illness or the challenges of recovering. So many of us end up losing our job and this puts massive strain on our recovery because we are tragically in a difficult financial situation. Without a job and the security of income, it becomes so hard to help ourselves.
The economy is facing the pain of people who have suffered from chronic illness. This could leave the UK facing the biggest recession in 300 years as the coronavirus pandemic lockdown wreaks havoc. This problem will only get worse as health crises of this wide ranging magnitude are not easily recovered from. The people will need to be convinced that the virus is no longer a threat before they will feel comfortable doing what they did before. The threat of going shopping, eating out and leisure, all of which adds tremendously to the economy, depends heavily on people’s ability to know people are free from the threat of catching the corona virus. People with chronic illness know this very well of this as they routinely are forced to protect themselves at all times.
There will be transition period for people to gain confidence in the level of lower health threats and or business to get back to back to normal even after the lockdown ends. For this reason, many people will be at home, out of a job and the economy will have to provide for these individuals. What will be more difficult is that after a while, the UK government will fiscally not be able to meet these demands.
So how can we overcome these mental anguish thrust upon us. Well first and foremost we need to get better, some individuals this is physical, some mentally or both . The worst thing the UK needs to deal with is a relapse of the full blown coronavirus as this will likely cause even more damage than the first incident. Once we as a collective community can see the results improving health, maybe somewhere close to 80% better, then people’s confidence will start improving much more rapidly and become a contributor to the economy.
But the clock is ticking. When the country went into lockdown and there were large amount of people becoming infected, we couldn’t work so this meant many businesses had to put their employees on the furlough system heavily subsidised by the government. This scheme is meant to stay in place until October. For the economy to recover we will have to get back to work, contribute to the economy via paying the taxes and taking our employees from the furlough for employees’ scheme. We should not be surprised to see increases in taxes, but this should be heavily resisted by the population. As much free money in the economy should be the goal and governments are not good at distribution nor should that be a priority of any government. Jobs need to be created as quickly as possible and the government should supply the framework that maximises this outcome.
Healing will come but it will take time. It should be our duty to get feeling better, so that we as individuals may support the wider community and nation in getting back to normality as quickly as possible. Painless Universal is uniquely advantaged in help people or organisations do this task.
Take pride in coming this far and keep building a positive outlook and confidence for the future.