- 6 Jun 2005
A LEADING business figure in York has warned that the current shutdown cannot be sustained for a prolonged period without causing irreparable damage…
A LEADING business figure in York has warned that the current shutdown cannot be sustained for a prolonged period without causing irreparable damage to the economy.
As the Government considers the lockdown exit strategy, Jonathan Oxley says he has done a survey of colleagues, contacts and clients about the crisis to gauge views.
“No-one expects this to be all over soon," said Mr Oxley, a corporate partner, chairman and head of the York office at Lupton Fawcett. "Even the most optimistic anticipate a phased release from lock-down at some point in the next four to eight weeks."
"I fail to see how the current situation can be sustained for a prolonged period without doing irreparable damage to the economy both locally and nationally.....
A closely watched survey confirms that the service sector contracted at a record pace last month.
Tim Moore, economics director at IHS Markit, said the data "highlights that the downturn in the UK economy during the second quarter of 2020 will be far deeper and more widespread than anything seen in living memory".
Lord Lamont says he fears some sectors of economy 'will disappear' after lockdown measures are lifted
We need to act fast and reopen the economy.
Locking down forever isn't possible and wouldn't eliminate the virus even if we tried.
As well has having a hugely detrimental effect on mental health, the longer the lockdown goes on for, the more likely it is that many firms will not survive. There are many peoples' livelihoods at stake and cannot simply be dismissed by pro-lockdown lobbyists.
Almost everyone I've spoken to recently now recognises these facts. I know some people want the lockdown to go on indefinitely until a vaccine is available but that is not possible, and we are risking huge problems the longer we remain locked down for. Enough is enough.