Boris Johnson's Virus Response Keeps Getting Bigger
In the race to craft effective coronavirus relief, Boris Johnson and Donald Trump can learn from each other.
How quickly the U.K. economy recovers from this crisis depends on decisions taken today.
Photographer: Luke MacGregor/BloombergFrom Donald Trump to Emmanuel Macron to Boris Johnson, world leaders have rushed to echo Mario Draghi’s words as the European Central Bank prepared to deal with the financial crisis: We will do “whatever it takes.” And yet there is no consensus on what exactly is required — not on the magnitude of relief, not on the timing of different measures, not on how to target and deliver it.
If size is mainly what matters, Britain has so far been out in front. Trump may be planning a $1.2 trillion relief package. But the one that U.K. Chancellor of the Exchequer Rishi Sunak announced Tuesday — 350 billion pounds ($424 billion) in loans, grants and tax relief — is 1.7 times larger on a per capita basis.