Economic distortion

When the state lends to businesses, the terms must be clear and consistent, like transactions between individuals. 

The expectation that the pandemic aid will, one way or another, not have to be returned – an expectation cultivated with political thoughtlessness – is threatening to create a new generation of people caught in the debt trap and others who repay their dues and feel like suckers. 

The state must avoid any such economic distortion.

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