Sunak rises to jobs challenge

Chancellor buys time for Britain

CHANCELLOR RISHI Sunak’s challenge over jobs should be set in the context of his comments to this newspaper in July; he has to formulate nationwide strategies when the circumstances of every family, and every employer, are different.

It’s the same with his new jobs support scheme which supersedes furlough and is aimed at protecting “viable” roles rather than all posts; the devil will be in the detail as Ministers try to balance conflicting pressures when it comes to public health and the economy.

But Mr Sunak deserves credit for responding to calls for action – and many businesses, and individuals, will benefit from the Treasury extending the period in which a range of grants, loans and payments to HMRC can be honoured in addition to the welcome VAT reduction for hospitality and tourism being extended.

This buys the Chancellor – and the country – some time, albeit at an unspecified cost, after the upsurge in Covid cases, and deaths, prompted Mr Sunak to cancel his forthcoming Budget and warn, once again, that he simply cannot save every job or business.

Both his handling of the Covid crisis – and his clear communication – have been far more assured than the rest of the Cabinet and much will be made of Boris Johnson’s absence from the Commons for such a farreaching statement. But Mr Sunak, like everyone else, is at the mercy of events

– the country’s success containing the second wave of Covid will be profound for the economy – and the Chancellor’s colleagues now need to grasp this.

And Covid must not detract from other reforms – notably the expansion of the Opportunity Areas schools programme and social care – that are now on hold until Mr Sunak is in a position to confirm a Budget and Spending Review as borrowing soars and a no deal Brexit looms. They’re just as pressing to the country’s future health and wealth as the current crises.