Recovering from the Economic Impact of COVID-19

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DC Field	Value
dc.identifier	ECF_chapter_4137
dc.contributor.author	Scott Peter
dc.title	Recovering from the Economic Impact of COVID-19. Who Should Pick Up the Bill for the British Lockdown?
dc.type	Chapter
dc.language.iso	en
dc.description.abstract	This chapter examines what lessons can be learned from three previous crises that created public debt mountains of similar magnitude to the pandemic: the First World War, Second World War, and Credit Crunch. In all three cases the Treasury pressed for drastic spending cuts, to maintain confidence in sterling and the City. However, in the one case where the Treasury’s advice was rejected, there was a substantially stronger recovery. The Treasury has similarly lobbied for austerity measures to deal with the Covid-19 government debt, again raising the spectre of slow growth and mass unemployment.
dc.relation.ispartof	Innovation in Business, Economics & Finance
dc.publisher	Edizioni Ca’ Foscari - Digital Publishing, Fondazione Università Ca’ Foscari
dc.issued	2020-07-31
dc.dateAccepted	2020-06-30
dc.dateSubmitted	2020-06-03
dc.identifier.uri	http://edizionicafoscari.it/en/edizioni4/libri/978-88-6969-443-1/recovering-from-the-economic-impact-of-covid-19/
dc.identifier.doi	10.30687/978-88-6969-442-4/003
dc.identifier.eissn	2784-8574
dc.identifier.isbn
dc.identifier.eisbn	978-88-6969-442-4
dc.rights	Creative Commons Attribution 4.0 International Public License
dc.rights.uri	http://creativecommons.org/licenses/by/4.0/
item.fulltext	with fulltext
item.grantfulltext	open
dc.peer-review	yes
dc.subject	Austerity
dc.subject	Austerity
dc.subject	Bank of England
dc.subject	Bank of England
dc.subject	Covid-19
dc.subject	Covid-19
dc.subject	Economic recovery
dc.subject	Economic recovery
dc.subject	Recovery policy
dc.subject	Recovery policy
dc.subject	Treasury
dc.subject	Treasury

Chapter
open access peer reviewed

Recovering from the Economic Impact of COVID-19

Who Should Pick Up the Bill for the British Lockdown?

Peter Scott Henley Business School, University of Reading, UK

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abstract

This chapter examines what lessons can be learned from three previous crises that created public debt mountains of similar magnitude to the pandemic: the First World War, Second World War, and Credit Crunch. In all three cases the Treasury pressed for drastic spending cuts, to maintain confidence in sterling and the City. However, in the one case where the Treasury’s advice was rejected, there was a substantially stronger recovery. The Treasury has similarly lobbied for austerity measures to deal with the Covid-19 government debt, again raising the spectre of slow growth and mass unemployment.

Published

July 31, 2020

Accepted

June 30, 2020

Submitted

June 3, 2020

Language

ISBN (EBOOK)

978-88-6969-442-4

Keywords: Recovery policy • Austerity • Covid-19 • Treasury • Bank of England • Economic recovery

permalink: http://doi.org/10.30687/978-88-6969-442-4/003

Copyright: © 2020 Peter Scott. This is an open-access work distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction is permitted, provided that the original author(s) and the copyright owner(s) are credited and that the original publication is cited, in accordance with accepted academic practice. The license allows for commercial use. No use, distribution or reproduction is permitted which does not comply with these terms.

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