Matthew Lynn Matthew Lynn

Is the furlough scheme too generous to be stopped?

(Photo: Getty)

You can get 80 per cent of your salary, and sometimes even 100 per cent, without actually working. Companies are getting virtually free loans, and can dump their often troublesome staff on the Treasury payroll, and entrepreneurs can get direct injections of cash from the state without actually having to launch any products.

Sure we can understand why the Government has stepped in with so much cash. It needs to stop the economy collapsing, and a lot of businesses would have gone under already if that support was not available. But there’s a catch. We’ve just created the biggest free lunch in history, and we shouldn’t be surprised if some people start to enjoy it.

It might be boring, but the polling is starting to show that lockdown is a lot more popular than anyone ever imagined it would be. According to YouGov, 88 per cent of people think it would be wrong to start loosening restrictions now – only 5 per cent are in favour. Only 30 per cent think it would be the right thing to do in three week’s time. A majority of the public would be happy for the lockdown to run into June. And even when it is loosened, people think it is more important to re-open schools than for non-essential workers to go back to the office (only 19 per cent, presumably the workaholics, or people halfway through a budding office romance, think that is a top priority).

The scientists were worried lockdown wouldn’t stick, and we would soon rebel. In fact, it is turning out to be surprisingly popular. Of course, many people are worried about their health and the safety of their loved ones. But could the generous support available be a factor as well? Lockdown is proving a lot easier for many people and companies than the real world ever was.

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