Covid-19 is having an impact on peoples lives and the economy unseen outside of war time. Untimely deaths, isolated from loved ones; radical isolation; family separation; economic stagnation. These are just some of the most obvious negative effects of a virus no one had heard of four months ago.

Given the speed of the transmission of the virus it is doubtful we have seen anything like the worst of it yet.  Developed nations with effective state infrastructures and sophisticated health care systems have not been able to keep up. The UK and the US face many more deaths before this scourge is brought under control.

Unfortunately, in developing nations the situation is likely to be much worse. As I write there is something like 50k deaths attributed to Covid-19 around the world, and given issues about recording this is probably an under estimate. The harsh reality is the ultimate death toll is more likely to be in the hundreds of thousands or even millions than in the tens of thousands.

Given all this it may seem premature to start thinking about what happens after Covid-19 however, I am confident there are those who are very much focused  on exactly that. They will not want to waste a crisis nor will they want to pay for it. I do not think we should give them a free run.

As we battle with Covid-19 it is teaching us some profound lessons. Ones which we should not allow to be lost or spun to the advantage of a minority at the expense of the majority. What are some of theses lessons?

First, how unprepared we were as a nation and a world for a pandemic that we have had a century to prepare for and numerous warning shots (SARS, MERS, Ebola etc.) to prompt us to take seriously. 

Second, the importance of those whose work is fundamental to maintaining and keeping open the essential arteries of society. People often on low or minimum pay: long distance lorry drivers, local van delivery drivers, supermarket checkout assistants, carers, nursing staff; first responders of all sorts. During the crisis we have all literally applauded these workers and we should not forget our debt to them AC.

Third, what a flexible and yet limited science economics is. TINA (There Is No Alternative) is lost, society is found and we have stumbled into a forrest of magic money trees. Debt is not  problem, we will do what it takes. Efficiency, with its low stock levels and just in time global supply chains are not all upside. What rational utility maximiser would expose themselves to a deadly virus for minimum pay? 

Fourth, when the role of the state has been rolled back through a radical programme of Austerity and tax cuts it has little capacity to respond to sudden shocks.

Five, hundreds of thousands of people are now being thrown onto a benefits system that is not fit for purpose.  You can understand why there are delays in answering calls when there is such a massive increase in demand in a short space of time. However, why claimants should have been routinely expected to hold on the line for an hour as the new system of Universal Credit was being rolled out over the past decade is inexplicable and inexcusable. As a brighter light is shoe on the benefits system we should start to address the basics of what amount of money people should have when they are unable to work in a rich civilised nation. At the moment it is shamefully and comparatively low.

Last but by no way least, who will pay? When the bills start to come in how will the debt be serviced? We have all been in this together and we all need to to come out together. Equity, demands those with the broadest shoulders need to contribute most to the cost. This means an industry whose role is to reduce taxation is not acceptable. It cannot be right that those who build fortunes by hiding their incomes and avoiding their taxes expect to be paid interest on money they lend to governments from those fortunes. 

We must not accept that the longer term impact of Covid-19 is continued Austerity with a capital A. There are questions about the levels of inequality and public financing which need to be addressed which take account of the interests of the many not the few. After Covid-19 we need the depth of change we achieved after World War 2 when national debt was 200% of GDP but we built a social state and established the NHS.