The full economic impact of the Covid-19 crisis is now beginning to be felt as each day brings fresh news of job losses. It will get worse.
There is a chance to mitigate this - to support tomorrow's winning companies that are struggling today. Encouraging companies to load up on more debt is not the answer. The solution lies in equity markets. We have recommended that the government create a patient capital fund, worth £20bn to £30bn, to support the growth ambitions of both public and private companies. Businesses will then be able to afford to protect jobs and keep up their investment plans. The Chancellor has not taken the opportunity of his fiscal statement to do this. Given the severity of the situation, we hope he wi...
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