The Tories have proposed a huge economic package to help companies, but their support for working people sacked, laid off, or forced to self-isolate … - Neil Faulkner

In the immediate period, millions in the , in leisure and tourism, in retail and services, and in aviation are being laid off without pay or fired outright. But the entire edifice of global finance is crumbling and we could easily see a generalised across the entire system. Talk of the irrationality of capitalism is being posted everywhere. Extensive industrial collapse could create millions of unemployed. A banking collapse would impoverish millions more at a stroke. This is what the government's authoritarian new bill is preparing for — a repetition in Britain and on a global scale of the kind of economic and that happened in Argentina in 2001–2, when most working-class and middle-class people lost all their savings and millions lost their jobs. Mass social and political anger could shake the system to its foundations, and those in power are preparing for emergency measures against radical "" — left-wing activists, trade unionists, social activists — liable to lead mass resistance. This, it seems, could take the form of mass detention without trial.

The Boris Johnson government's initial response to COVID-19 was the now discredited policy of "herd immunity" — the strategy of letting the virus rip through the population, infecting up to 40 million people, most of whom would recover and then supposedly be immune to the virus. The only problem was that this would have resulted in hundreds of thousands of deaths — a prospect the Tories had to abandon in the face of expert denunciation and widespread public outrage. Johnson's change of tack was to move finally towards lockdown, advising against mass gatherings and urging people to avoid clubs, pubs, and restaurants — and most travel — as well as advising older people to self isolate. (And of course, it was only 'advisory' – so that finance capital does not have to foot the bill for hundreds of thousands of insurance claims from small businesses.)

The Tories and have created a casualised, insecure, low-wage economy in which the bosses rule and workers are forced to take what they can get. Millions will find themselves with no income. When they try to claim benefits, they will find in place a ruthless regime of cuts, sanctions and suicidal despair — another achievement of Tory austerity. The most that Johnson has said about this so far is that claimants will not need to attend job-centre interviews any more. And what of expenditure? There is vague talk of a "mortgage holiday" and even vaguer talk of renters not being evicted during the crisis. But no talk of all the other payments that should be suspended, including, of course, utilities bills and other fixed household charges. Meanwhile, the profiteers are marking up the prices on goods in short supply — hand sanitiser, paracetemol, toilet roll, etc — and, needless to say, the Tories have done absolutely nothing to control prices.