As a change from the declarations by government or other officials, a commission made up of 10 business leaders from companies including Tesco, Vodafone and Astra Zeneca has set out plans for economic recovery as the Covid 19 pandemic is brought under control. Following the biggest economic crisis in 300 years, the members hope these plans “will reset the relationship between business and government”, the aim being to boost economic growth and improve living standards, at the same time supporting UK suppliers reducing social inequality.
Mr. John Allan, the chair of Tesco, is reported to have said that the plan went beyond ”purely economic measures” and to have told the BBC; “The pandemic has ensured that those who were worst off to start with have suffered more than those who were relatively well off, so the gap between the comfortably off and those less comfortably off has grown.”
Whilst we at TH Financial Recovery have seen the hardship encountered in Burnley and other areas of Lancashire, Mr. Allan made the point that deprived communities exists across the UK. “They’re not just in the north or midlands, there are an awful lot of socially deprived communities in London for example.”
“And the view of the business people we’ve got together for the infrastructure commission is that what we need is to solve, not only for growth, but also to ensure that at least some of that growth is used to remedy the widening social inequality we’re experiencing.”
Comment: Whilst the proposed plans above are laudable, they will no doubt take some time to a) establish, b) implement and c) see results. At this time many individuals and business need financial / insolvency advice to deal with immediate financial issues and to find practical solutions.
Source: BBC News

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