Some industries will already be cutting shifts and ditching hiring plans and it will now only be a matter of days before we hear of lay-offs, short-time work plans, protective notice, a raft of temporary closures and so on. Photograph: iStock
A sharp jolt downwards in economic activity will now happen as the Government increases the level of its response. There are already signs of slower spending in some areas – on holidays, restaurants and so on – and indications that business life is slowing. The unprecedented measures now announced will accelerate this significantly, as well as causing operational difficulties for many companies, notably for those with staff who need to mind children who are off school.
There are three vital questions, in economic terms.
Well it looks like it pretty good for supermarkets they will certainly make massive profits from it