The Tories’ response to Covid in March 2020 was chaotic and indecisive, in line with the official report on the difficulty.

The Guardian notes:

“Too little too late” is the important thing discovering of Heather Hallett’s second report from the Covid public inquiry, which targeted on politicians and the choices they made at essential factors throughout the pandemic.

It value lots of of tens of millions to achieve this conclusion.

You might have learn my very own real-time abstract of what was happening to achieve the identical conclusion.

By 3 March 2020, effectively earlier than lockdown, I used to be saying:

There may be not a hope that slicing rates of interest will, proper now, do something greater than encourage markets to fly to security since they’re clear indications of concern that may do nothing to alter something in any respect in regards to the underlying financial issues that covid-19 will create.

The necessity proper now shouldn’t be for financial coverage, excepting indication that QE will likely be used if needed. The necessity is for there to be very clear fiscal coverage, and there’s nonetheless no signal of that. The possibility that we’re, in that case, heading for a serious shock with regard to authorities funds, which could solely be able to being addressed by way of QE, could be very actual, however to date, it appears, unacknowledged.

Covid-19 has a horrible course to run, however so too mighty the  economic system except Treasuries realise very quickly that they must intervene on a really large scale.

I used to be approach forward of the federal government at the moment and remained so.

If I had labored out what was taking place with very restricted info, their incompetence with the information that they’d could be very clear. They deserve all of the condemnation they get.

The primary query is, why will they get away with it?

And the second is: ought to they ever be allowed to come back again? At the least there appears to be a transparent reply to this second one.

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