Boris Johnson’s Six-Month Covid Plan Carries a Heavy Cost

Britain’s new lockdown measures may be in place until late March 2021, according to Prime Minister Boris Johnson. That makes one thing clear: It’s too early to withdraw fiscal support from the U.K. economy. That will pain many of Johnson’s fellow Conservatives, who understandably fear creating a culture of financial dependency. But the damage from a major economic downturn, or a chronic loss of confidence in the government, would be far worse.

The pandemic has hit Britain harder — in terms of deaths and economic loss — than any other European nation, but there have been reasons for optimism too. Growth fell less than many expected at the height of the full lockdown in the spring and recovered faster than many dared hope over the summer. Consumers shifted their spending online but still made purchases. Many businesses adapted. My local restaurant began selling fresh fish and produce when it couldn’t serve cooked meals.