The upcoming austerity will kill more people than CV. The people we are shielding now will be hit by the brunt of health and social care cutbacks.
Austerity is a political choice.
The government would be better off giving a citizens' universal income for a few months, which would be very easy to implement, wouldn't need much bureaucracy, and most people would spend it immediately, so keeping businesses going and keeping taxes going back into the treasury.
They could raise taxes for the highest earners and get more money back that way. They could invest in better infrastructure, especially in communications and in training for as many people as possible to do more work online.
They could expand the businesses currently making PPE. They could put all their energies into finding accurate tests, and at least trying to isolate the people who have it, and their contacts, and anyone coming into the country. It won't stop it indefinitely without a vaccine, but it'd stop so many people spreading it and lessen the death toll. New Zealand locked down early and has managed to limit their deaths to 11.
They could do a lot of things to keep businesses afloat (especially those of the self-employed, many of us who are falling through the cracks at the moment, and not getting immediate support like employed workers.
They could setup rules so that anyone living in a flat/home without garden or balcony space could be given a pass to go out more frequently. They could make pavements one-way only on each side of the road.
We don't want this to end in the poorest yet again paying the price for a global situation.
We can carry on like this - we're going to have to for a while, thankfully because I'm worried about us going back to 'normal' too fast, but we also need to adapt to make this a more productive time, and use the technology we have to get people able to keep working who are otherwise furloughed or now unemployed.