The economic response to covid-19 is not austerity: four pillars for strong public finances

Carsten Jung writes that the Treasury needs to provide a sustainable stimulus to prevent another Great Depression and explains why the UK can afford to borrow big in order to do so. He stresses that central bank support will be critical, but this should be reduced once the economy has recovered, and that Rishi Sunak needs to outline a plan for putting public finances on a firm footing, anchoring the recovery around sustainable pro-jobs investments and fair tax reform.