Smarter public spending is key to COVID recovery

Rebuilding the economy and reducing inequality post-COVID will require a massive reorganisation of public spending on work, education and skills issues, according to UCL Professor of Political Economy, Sir Richard Blundell. Professor Blundell has co-authored a report commissioned by Sir Patrick Vallance, the Government Chief Scientific Advisor, looking at the expected decade-long impact of COVID-19 on society. It is being published by the British Academy a year after the first national lockdown. Professor Blundell said: " As we come out of lockdown and furlough is wound down, we'll see increased job loss and we've already seen a strong decline in apprenticeships and reduced overall training. This will hit young workers and those just leaving education the most. "Younger generations have not only had their education disrupted, but they're also facing a labour market with fewer opportunities for training, reducing their prospects for career progression. Increased opportunities to work from home also favour some more than others - the educated, those on higher incomes.