Stimulate the economic impact of covid-19

Assignment Help Microeconomics

Reference no: EM133714279

Question: The UK government implemented a range of fiscal policies to stimulate the economic impact of COVID-19. These measures aimed to support businesses, protect jobs, and provide relief to households. One of the policies implemented was the coronavirus job retention scheme which "was a temporary scheme designed to protect the UK economy by helping employers whose operations were affected by coronavirus to retain their employees." (gov.uk) Other interventions included business grants and loans, tax deferrals, and an increase in Universal Credit payments to support low-income households. Which was similar to actions taken by the United States with the Paycheck Protection Program. Overall, the UK's fiscal interventions helped stabilize the economy during the pandemic and the Office for Budget Responsibility estimates that the UK government's interventions were worth around 10% of the GDP (gov.scot) While the interventions were necessary, they also led to increased public debt. Which goes to show balancing short-term relief with long-term fiscal sustainability remains a challenge.

Reference no: EM133714279

Questions Cloud

What would be appropriate way to graphically represent data : What would be an appropriate way to graphically represent your data? What ideas do you have for experiments that will build on this experiment?

Describe disaster chosen and include rationale for selection : Describe how LPNs contribute to the healthcare team during disaster, including examples. Describe the disaster chosen and include a rationale for the selection.

How does the media promotion of certain products : How does the media's coverage of violence and crime impact people's sense of safety?

How do you find the total revenue if you choose to outsource : How do you find the total revenue if you choose to outsource? why would it be the same as producing in-house?

Stimulate the economic impact of covid-19 : While the interventions were necessary, they also led to increased public debt. Which goes to show balancing short-term relief with long-term fiscal

Summary of a reading of on liberty : Provide a detailed summary of "A Reading of 'On Liberty' by George Kateb, providing memorable quotes and points? What are the positive and negatives?

Which action does the nurse take initially : The nurse suspects that a coworker is impaired due to observing slurred speech and uncoordinated movements. Which action does the nurse take initially?

Do you feel addressing the digital divide : Do you feel addressing the digital divide as Bruce is trying to do, could play a role in reducing poverty and improving economic prospects within these

State the law of demand and explain the meaning : State the Law of demand and explain the meaning of 'other things held constant and Describe the determinants of demand (shift factors) other than price

User Account

All Pages