Written By John Longworth
The Chancellor is right to question the sustainability of the furloughing scheme. In each and every conversation I have with the members of our business network, I hear the same message echoed: the government is borrowing and spending far beyond its capacity.
Although well-intentioned, the scheme was ill-conceived in the first place, in a typical Treasury mandarin approach, representing a lack of understanding of anything outside the Square Mile.
On Friday, we celebrate VE Day. Following World War 2 we had fifteen years of austerity and public sector investment as crippling war debt led a bankrupt country to privation and rationing right up until 1957.