Thread by @JohnDCaudwell

.@bankofengland is right that our strong vaccine rollout is essential for our economic recovery. And we will undoubtedly have a big bounce as things reopen. But let’s remember that is from the very low position of being 10% down. #economy

bbc.co.uk/news/business-…

This initial bounceback will be driven by those who have been lucky enough to maintain or grow their incomes during Covid as they splash out with their excess savings and make up for lost time. #bankofengland #economy #thread

But vaccines can’t reopen businesses already closed, save jobs already lost, pay off the debts of over-leveraged SMEs, or plug the huge holes in the finances of the unlucky 3.8m excluded from Covid income support for the past 10 months. @ExcludedUK #ExcludedUK #thread

When #furlough ends and more are made redundant, unemployment will rise further. I see little chance of returning to pre-pandemic GDP in a year, as @bankofengland predicts.

The pressure's on for @RishiSunak to sort out a real long-term plan ahead of 3 March's Budget. #thread

The #Budget must include extensions of furlough, business rates relief and other support til restrictions are fully lifted; assistance, at long last, for @ExcludedUK; and a commitment to massive long-term investment along the lines of #CaudwellPandemicRecovery. #ExcludedUK #CPR📈