Lifting the lockdowns
Business Daily
BBC
4.4 • 816 Ratings
🗓️ 23 June 2020
⏱️ 17 minutes
🧾️ Download transcript
Summary
Ever since governments first began trying to contain the coronavirus pandemic, economists and pundits around the world have debated the apparent trade-off between protecting public health, and minimising the economic harm that the containment measure would likely cause.
But is the whole idea of health versus wealth wrongheaded? We hear from Jo Michell, associate professor in economics at the Bristol Business School, and from Laurence Boone, chief economist at the Organisation for Economic Cooperation and Development.
Meanwhile, businesses and workers around the UK are holding their breath for the end of lockdown, as the BBC’s Joshua Thorpe has been finding out.
(Picture: Woman reopening her small business after Covid-19; Credit: FatCamera/Getty Images)
Transcript
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| 0:00.0 | Hello and welcome to Business Daily from the BBC. I'm Manuela Saragossa. In this edition, the economic and psychological toll of lockdown. |
| 0:10.2 | Absolute fear and panic, of course, for myself and my families. I'm a single mother, so I had a double fear there. |
| 0:16.7 | And I think all of us are worried that we're going to be made London. But as lockdowns are lifted, can there really be an economic recovery |
| 0:23.9 | while the COVID virus is still out there? |
| 0:26.5 | One of the reasons people aren't spending is not just the lockdown. |
| 0:29.7 | It's also that people are scared to go out. |
| 0:31.9 | And while the virus risk is still there, that economic impact will remain. |
| 0:36.5 | That's all here in Business Daily from the BBC. |
| 0:43.0 | Later today, the UK's Prime Minister, Boris Johnson, is expected to say |
| 0:47.2 | whether pubs and restaurants can reopen next month in England. |
| 0:51.0 | Non-essential shops have already been allowed to reopen. |
| 0:53.6 | The theory, or the hope, |
| 0:55.0 | is that economic activity will step up again as a result. But are consumers really poised |
| 1:00.2 | with their wallets open and ready to spend? Over to our reporter, Joshua Thorpe. Traffic has been |
| 1:08.0 | slowly building up over the past few weeks along the high street here in the village of Twyford, just west of London. |
| 1:13.4 | The few non-essential shops in the village have been open for a few days now, but customers are still sparse. |
| 1:19.2 | Perhaps they've been put off by the rain, or perhaps many are still reluctant to go out and spend money whilst infections remain high. |
| 1:26.5 | So for many of the residents here, life is still far from normal. |
| 1:31.3 | The government has tentatively set the date of the 4th of July for the gradual reopening of pubs and restaurants, |
| 1:37.1 | but with social distancing measures still in place, many establishments simply won't be able to open their doors. |
| 1:43.3 | Adam Hare worked as a restaurant |
| 1:44.7 | supervisor before the lockdown. He says it was a huge blow to him when pubs and restaurants closed |
... |
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