Rishi Sunak, the UK Chancellor, has rightly won praise from across the political spectrum for his bold interventions to protect incomes, jobs and businesses through the lockdown. But history will be the real judge. Sunak will need to prevent a recession becoming a depression. As the measures are lifted and life returns to normal, victory will be a V-shaped recovery with economic activity rebounding to its pre-coronavirus peak in a matter of months. Preserving businesses and jobs will put us in the best possible position to bounce back quickly. Each lost job and failed business will mean a longer recovery, as entrepreneurs are forced to start again from scratch.
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