At the beginning of 2020, Great Britain faced with the new dangerous disease - coronavirus COVID-2019. This illness came from China and provoked pandemic all over the world. British society was informed about the first cases in January and the fast rapidness of this illness started in March.
To prevent the negative consequences the information campaign was launched and several recommendations were given to society. All of them were described in detail in the special document: the Health Protection (Coronavirus) Regulations 2020 statutory instrument. This document includes not only the norms of testing the disease but also several pieces of advice and limitations.
The government advised people to avoid traveling and visiting crowded places: pubs, restaurants, theatres and so on. These limitations have impacted negatively on the British economy. A large number of flights were canceled, service and show business have faced decreasing incomes.
At the same time, the purchasing behavior of people has also changed. More сonsumers than before decided to buy online and several offline retailers became less popular. As a result, a lot of people (airline staff, workers from the service area, company owners) nowadays have to find ways to cope with the financial troubles.
What ways are the most effective and popular? The governmental support or British payday loans online with SterlingStore as help from the external sources. It mostly depends on the governmental anti-crisis strategy.
Basic Facts You Should Know
Before discussing the features of the financial crisis in Great Britain, it is important to understand the impact of the coronavirus on the country at all. Here are some facts!
For April 19th there are 88 621 disease cases. 11 329 people have already died.
The fast growth of new cases started at the end of March. Before this time the official statistics show a calm epidemiological situation.
Recent researches show the sharp rise of mortality.
Forecasts: What to Expect and What to Be Ready For
To understand the future consequences of such a serious outbreak the government has decided to make a mathematical model. It was provided by the Medical Research Council's Centre for Global Infectious Disease Analysis at Imperial College. This model includes the best and worst scenario. Due to the second one, the new type of virus will infect 60% of UK citizens. To avoid the overwhelming of city hospitals the specialists have proposed to suppress the outbreak by self-isolation, social distancing and several limitations such as the prohibition of crowded events. Due to the world rising disease trend, this strategy is absolutely justified but impact negatively on some sectors.
Art and entertainment. This sector suffering the most. A lot of singers such as Avril Lavigne canceled the concerts at all. However, some of the artists use live streaming to joy their public. All British theatres and cinemas announced about closing and the Edinburgh festivals were rescheduled.
Transport. International flights became extremely dangerous so that London City Airport also closed. Some other airports reduce the number of terminals or provide changes in schedule. The government also engages people to use public transport only for extreme cases and change the timetable.
Food sector. A lot of fast-food such as McDonald’s have changed the work condition. They don’t allow to sit inside the building and provide the takeaway format. Some pubs and restaurants engage consumers to order food and drink by mobile applications.
How Does the Coronavirus Change Economic Thinking?
The COVID-2019 outbreak is a challenge for the whole country. Boris Johnson compared this situation with the summer of 1940 when the UK had to pay a big price to save lives. However, there are several important differences. There is no country with an immune to the coronavirus so that even the world economic giants feeling the negative impact of it. The USA announced about colossal job losses and the unreadiness of the medicine. And in Great Britain, the situation is not better. In the second quarter of 2020, the productivity of the country fell by 15% but this is not the limit.
In this case, the only way to cope with the financial crisis is to cooperate. In the last few years, we were watching how political aggressions and disconnection ruin the trust of governments to each other. However, the pandemic shows that the only way to cope with the disease and its forecasts is to join forces. It is quite possible that this statement may be the base of the British anti-crisis strategy.
