It’s a catastrophe, Mr President

As the government enforces strict lockdown measures which will, in theory, help the medical sector cope with the Covid-19 tsunami, there can be few who think the restrictions are not going to severely damage our economy. Yet, many may be underestimating the impact the lockdown is having on the poor and the middle class – those who provide the muscle to power the economy. Results from the 2020 Covid-19 special report of Old Mutual Savings and Investment Monitor are frightening. Seven out of every 10 households are earning less than they did before the coronavirus crisis, ranging from slight reductions…

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