FILE PHOTO | NMG
In terms of new thinking and ideas on how to rescue the private sector from the impact of the coronavirus pandemic, I must say that the government has scored very poorly.
When we were coming up with measures to save companies from the impact of the coronavirus, we didn’t think about specific sector interventions.
Had we even as much as debated , injected new and fresh thinking about the impact on some of the most affected sectors such as travel, hotels and tourism, Norfolk wouldn’t have suspended operations.
If you have been following the news from Britain, you must have come across the news that the government there is thinking about establishing a $25 billion taxpayer funded sovereign wealth fund to buy out and inject long-term equity into struggling family-owned companies whose collapse would disproportionately harm the economy.
We need to come up with specific sector interventions where companies in specific sectors are supported by being given long-term capital after being assessed in terms of employment, pre-Covid 19 turnover, and tax compliance.
