This event, hosted by UK think tank IPPR will discuss a progressive response to the coronavirus pandemic.
The Covid crisis is likely to significantly exacerbate existing structural inequalities. While the massive expansion of state intervention – in particular, to underwrite wages for workers and loans for small and medium-sized businesses – may at first sight seem to be progressive, whether this is really the case depends on how these interventions ultimately affect the balance of wealth and power in our economy.
IPPR analysis suggests that the government’s current response to the crisis will in fact exacerbate inequalities between the working poor and the asset-owning wealthy – insulating creditors and asset-owners from the worst effects of the pandemic while driving many of the most financially vulnerable deeper into debt.
IPPR’s new report; ‘Who wins and who pays? Rentier power and the Covid crisis’, argues that we must not repeat the mistakes of previous crises, by asking those least able to weather the crisis to make the greatest sacrifices.
At this event, we’ll be joined by the authors of the report, to explore its findings and discuss how the economic risks and costs of the shutdown could be shared fairly across society. Our speakers will consider short-term measures to ensure that banks, landlords and the well-off take their share of the burden; long-term structural solutions to address the deep imbalances in the UK economy which long predate the pandemic; and the politics of achieving these changes.