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Economist says lockdowns caused cost of living crisis

Monday, 13 June 2022 10:47

Nottingham Business School Professor David Paton told the Pandemic Response and Recovery Group that eye-watering sums of money were spent on furlough and business support, and when restrictions eased, spending this money, while there was a lack of supply, inevitably meant higher prices

I’m Paul Hutton with news that an all-party group of MPs have heard how lockdowns sparked the current cost of living crisis. Nottingham Business School Professor David Paton told the Pandemic Response and Recovery Group that eye-watering sums of money were spent on furlough and business support, and when restrictions eased, spending this money, while there was a lack of supply, inevitably meant higher prices. He says the government should’ve done a cost-benefit analysis of lockdowns and other restrictions before imposing them. Stay with us here at Care Radio for more care related stories.

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