Tani Dulay, Chief Executive at Woodbourne Group, reflects on the impact of Covid-19 and the importance of mindset in defining better resilient socio-economies.
The COVID-19 pandemic and its economic fallout doesn’t require an introduction. It’s unclear exactly what form and how long the economic recovery will take. The OBR says the UK economy could fall by 35 per cent in the second quarter. Brutal, but it also expects a very sharp bounce back with policymakers acting in unison. Actions are being taken far beyond monetary policy to cushion the demand drop and they are preventing the economy from seizing up in aggregate credit flows by keeping illiquid firms solvent.
The Department for Transport’s “notices to proceed” to the contractors on the HS2 route between London and Birmingham means the civils packages, worth £12bn, can now finally get underway without delay to ‘level up’ the country and the city. It has been confirmed the staging of the 2022 Commonwealth Games will not be impacted by the postponement of Tokyo 2020 either.
These are reminders of how resilient our city is. Its underlying strength should give hope to those whom operate within it.
We had to revaluate operations and make lateral moves to adapt. Woodbourne Group has the bandwidth to support its pre-construction activities across the development portfolio and will continue to screen opportunities. The stable, loyal and determined entrepreneurship shall be the backbone of the national perspective growth. Attitudes and psychology of the mindset plays a role in defining better resilient socio-economies. It’s often said that when the wind of change blows, some build walls, while others build windmills.