The coronavirus pandemic is teaching national Government to move towards the standards of government in the biblical Millennium. There is much room for improvement, but the unprecedented Coronavirus Job Retention Scheme announced today by the British Chancellor of the Exchequer is a step in the right direction. It is a financial package “unprecedented in the history of the British state” and it is an example to the world.
The proper use of wealth
One of the features of the rich is that they can ‘ride the downturn’. When share prices fall, the rich can afford to ‘sit it out’ until prices recover. The less well-off have to sell at the bottom, mirroring the failure of businesses in a downturn because of inadequate cash reserves. For the first time the UK Government has used national wealth to ride the economic storm caused by the coronavirus pandemic.
This is a global lead and, as Rishi Sunak the new Chancellor of the Exchequer said: “When this is over, and it will be over, … we want to look back on this time and remember how in the face of a generation-defining moment we undertook a collective, national effort and we stood together.” We did what it took.
This financial package is an attempt to preserve the business, skills and employment infrastructure in the UK so that it is still in place to recover when the pandemic diminishes.
Learning from history
Prime Minister Boris Johnson acknowledged that the UK had learned from the inadequate measures taken in the 2008 financial crisis. On that occasion the banks were bailed out, but instead of banks lending to small businesses, they kept the money to recapitalise themselves. Many useful small businesses went to the wall because the banks would not lend to them. This time, the UK Government is directly supporting the people, their employment and the business infrastructure of the country.
This change in government ideology is one of the benefits of the coronavirus pandemic.
A medical illustration
There are many medical diseases that need hard-hitting initial medication, which then tailors off such as steroids. In the past arthritis was treated in a gradual manner but now it is hit hard from the beginning and tailored off. Similarly with dermatitis, and even type 2 diabetes is being reversed by hard-hitting dieting, which seems to ‘reset’ the metabolism of the body.
This economic measure is calculated to be ‘cheap at the price’ if it should curtail a long-term recession or depression caused by the destruction of the nation’s business infrastructure.
This largesse is possibly one of the first benefits of Brexit, the UK Government having the freedom to map the pathway to recovery and using our national wealth, financial and human, for a more generous future.
A more lasting benefit is to use the wealth of the whole nation to support the workforce of the nation. The next step is to teach the poor how to capitalise on the investment wealth of the nations to become self-sufficient and develop their potential. Having dealt with the main priorities of Government – 1. the safety and defence of its citizens, 2. the health of the nation, 3. the wellbeing of its citizens through education leading to meaningful and gainful employment – Government might recall its duty to attend to the spiritual needs of the nation by encouraging and supporting preachers of the Gospel of God’s free grace through Jesus Christ.
The Lord Jesus Christ’s biblical Millennium is on course.
26 Mar 2020: some banks are still shifting responsibility. It demonstrates the need for change before the biblical Millennium will transpire. It shows how different business and government and attitudes will be in the biblical Millennium.