New figures from the Bank of England show what many of us predicted – that the effect of shutting down the economy would increase wealth inequality and hit the least well-off hardest. And it’s just going to get worse.
The Bank of England has published the first real data that shows how inequality has increased during the Covid-19 crisis revealing that those of us who argued that shutting down the economy for a long period of time would wreck working class people’s lives were not far-right lunatics and granny killers, but just right.
It is no exaggeration to say that uncertainty has been the defining existential mood of the past six months. And it still informs how we view the Covid-19 crisis and its aftermath.