In this coronavirus crisis, do families have enough savings to make ends meet?

Article by George Bangham ’17 (Economics of Public Policy)

In an article for the Resolution Foundation, George Bangham ’17 (Economics of Public Policy) looks at data on UK family finances in the period before the coronavirus pandemic and thinks about policy measures for those who may lose their primary source of income during the crisis.

Here is an excerpt:

We won’t know exactly how many people have lost their jobs due to coronavirus until at least the summer, when official statistics come out. But as well as monitoring the ongoing impact of the crisis, it’s equally important to consider the state of the country as the economic downturn hit home…

Amid the horror of the pandemic, and the legitimate fears of many families for their finances, it might seem frivolous to worry about statistics for the time being. But the lessons from the data are vital. They point us to new issues that the Government must fix. In a crisis, statistics can save livelihoods and save lives.

George Bangham ’17 is an Economist at the Resolution Foundation. He is an alum of the Barcelona GSE Master’s in Economics of Public Policy.

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