Rishi Sunak the Chancellor of the Exchequer –
To be given the task of managing the Country’s finances is no small feat. In order to hold the office adequately the chosen Chancellor has to have a thorough grounding of the office in question, as well as being brainy, patient, well organised and tactical, to even have any chance of allocating funds in a way that would address certain issues within the Nation’s Economy.
The Chancellor’s task has been made all too complicated this year due to the presence of Covid-19 which is still continues to affect large areas of the Globe.
Rishi Sunak will no doubt go down in history as the first Chancellor to set up a furlough scheme whereby employees have their wages paid by the Government even though they would not be allowed to do any work for their employers to qualify for the fund.
This unprecedented move by the Chancellor has no doubt saved numerous jobs, prevented mass family break ups as well as support the Economy when it would no doubt have rapidly collapsed.
A great deal of employees have mortgages to pay and families to support. Statistics has revealed that where there are little or no funds coming into a household, friction between couples is not far behind. This is particularly true where the husband is the bread winner and the mortgage taken out is one that is above average. No doubt some would have managed to cope for a short period of time, but it would not have lasted very long at all.
One of the major beneficiaries of the furlough scheme package is British Airways and its staff. The Aviation sector was one of the sectors that bore the full force of the coronavirus pandemic. At one point, it looked completely doomed, because 99% of its fleet was completely grounded.
On a regular day Heathrow airport sees over 1300 flights take off and land daily. Whilst all these flights are not just BA flights, it still represents an astronomical decline in revenue to the Company.
It has now emerged that Rishi Sunak is now proposing another bumper package today. So it is worth staying tuned to find out just what is included in his latest package this afternoon.
Photo of Rishi Sunak Courtesy of Mumbai Mirror.
Story by K. Festus.