The chancellor has left it late to act and financial support must go where it is most needed
Rishi Sunak’s “winter economic plan” is urgently needed. It certainly could not have waited until November’s budget, now scrapped. Just look at the latest news on business activity: the recovery was starting to stall even before this week’s new Covid restrictions arrived. Over in the eurozone, which has been about a month ahead of the UK throughout the crisis, data is even weaker.
The chancellor has still left it late to act. The sugar rush of “eat out to help out” passed at the end of August. Companies that were hauling workers back to offices are reversing their plans. And the furlough scheme, still supporting 3 million jobs, is supposed to close five weeks from now.