Faisal Islam, a political and economics journalist, shared an article on the vaccine rollout being the blueprint for UK’s recovery from the Covid-19 pandemic.
Economists opine that between fiscal tensions and extension of rescue packages, Rishi Sunak, Britain’s Chancellor was always going to point towards a changed economy in the upcoming budget.
However, the vaccine rollout, in particular, is being seen as timely to recover from the crisis.
It is also being expected that the chancellor will make the argument at the Budget that the Oxford-AstraZeneca coronavirus vaccine in the UK represents a model for medium-term changes in the economy.
The OxAz model will also see increased public participation, regulation, and significant state funding.
It is being speculated whether the government will spend equal sums of money at other forms of economic innovation, as it did for vaccines during the pandemic, by sourcing ventilators, protective equipment, and testing technologies.
Alok Sharma’s Department for Business, Energy and Industrial Strategy (BEIS) believes that the $16.2bn upfront expenditure on vaccines will bring potential benefits worth $15.2bn and $320bn, excluding wider health and social benefits.