What Are The Financial Implications Of The Coronavirus For Education?

How long is a piece of string? You might be asking, looking at the question this blog is asking. And to some extent, you’d be right. In these early days of the outbreak, it is as yet unknown how long it will be among us, and for how long measures, such as school closures will be required.  We don’t know how much budgets are going to be diverted or how long austerity will be in place to recover the costs of the temporary emergency measures. But instead of fixating on what we do not know, however, let’s list what we do.

One report, which looked at labour market data in the United States, the United Kingdom and the eurozone surmised that, in the event of school closures, up to 20% of the workforce may need to take off work to care for dependent children. If this were to be the case for four weeks, the GDP of these countries could fall by 1.5%……….………………..