“I don't think your kids will be paying for this for decades to come. Everyone is in basically the same situation.”
Not true. State-ed children only seriously affected. £300M of school “catch-up money” isn’t going to go far as it’s about £10k per school, so less than employing a third of one teacher for one year.
Children are falling behind. Parents are stretched to the limit. Academic, social and sporting capabilities are being eroded. Child mental health issues are soaring. Child abuse and neglect is going unchecked.
These costs are nearly all being borne by the young and the financial costs will be theirs too. There is no way out of the burgeoning debt problem aside from inflation or default. The route will be inflation and it’s already started.
Our children are paying the price, in every way, for something that is of negligible risk to them, and is very low risk to their parents who are generally under age 60.
The liquidity issued by the Fed, BofE and ECB is flooding into assets creating massive asset price inflation, so the rich get much richer and the average person loses their job and can’t pay the mortgage.
Taxes will rise to pay for it, but not before the wealthy pop their massive gains into foreign tax-avoidance schemes and havens, so the middle and working class will pay. We are witnessing a massive transfer of wealth from the average person to the already wealthy.
And our children will pay the price of that for years and years to come, with lower attainment, lower living standards, higher taxes, and an ever-increasing elderly population burden.
Schools need to re-open. The money should have been spent on targeted protective measures for the Covid-vulnerable instead of f*cking our economy and future.