Britain is facing the dangers of a prolongued General Strike combined with financial meltdown
The end of the Lockdown will unleash the law of unintended consequences. For example, for education to go back to normal timetables, two conditions must be met. You need to have enough teachers willing to return to the classrooms and enough parents must be willing to send back their children to full-time education.
At the moment, none of the said conditions seem to be about to be met. Trade Unions have stated that they are reluctant to tell their members to go back to work in conditions deemed to be unsafe. Surveyed parents have indicated that they don't want their children back in school for fear of infection.
As long as the Lockdown goes, teachers' salaries continue to be paid. How long will teachers' salaries continue to be paid if the authorities decide that all schools must return to normal timetables and teachers don't show up? Will parents be forced to send their children to school? Will those who don't be penalised?
Normality in terms of school attendance has a direct impact on working families. Parents could not go back to work as normal if their children are not in full time education. In principle, the furlogh scheme will only last until October 31st 2020 when many - perhaps millions - will find out if they still have got a job.
People without income cannot pay for mortages and loans. We could witness a massive Northern Rock effect. To the number of companies that have already gone under will be added the number of those who have gone under that we still don't know about.
This will happen at a time when the state is already involved in unpredented levels of borrowing to finance the furlogh scheme and other emergency funding. If as a direct result of the present predicament, the financial sector falters, there is no money in the kitty to rescue the financial sector and at the same time pay for mass unemployment.
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