I have done some calculations and I wondered if this is correct. I know that behind every statistic is a person so I do not want to minimise any suffering - but this is intended to be a dispassionate analysis.
So London has a population of 9 million
We now know 17% of londoners have had covid 19 - possible more actually but let's say 1.5 million (which is 17% of 9 million).
According to the ONS 88% of people who die of covid 19 are over 65.
Deaths in London hospitals due to coronavirus are 6000 approx. 75% of deaths occur in hospitals. To get the figure for the wider London community (care homes etc) gross up the 6000 figure to 8000.
So in London 8000 people have died out of 1.5 million infected. That is a case fatality rate of 0.53%. Recent studies show this is around the correct ball park for this figure.
Now assume 80% of all London gets the virus and that 0.53% of them die. That is 38,160 people. Of those 38,160 people, 88% would be over 65. 12% would be under 65.
12% of 38,160 is 4,500 people approx.
Now I am not saying that 4,500 people in London are not worth saving, obviously, and this calculation works in a similar way for the uk as a whole which would obviously make the numbers much bigger. Likely deaths at .53% for under 65s - if 80% of UK got infected is c. 200,000. If everyone over 65 shielded and if everyone under 65 carried on as normal the economy would presumably fare a lot better. At what price do we save 200,000 under 65s? Let's say this costs 330 billion at the end of the year (government estimate). Divide that by 200,000 and it's over 3 million per person. Under 65s with cancer are often told that their treatments are too expensive and you can't just fly to America for special treatment etc - where is their 3 million pounds?