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Will the vaccine restore practices to full health?

Philip Fisher celebrates the discovery of a vaccine and begins to consider accounting life in a newly normal world.

16th Nov 2020
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Injections in the arm to treat the disease

At the beginning of last week, all was doom and gloom.

We were locked away for at least a month and quite possibly the foreseeable future, the economy was tanking and there were threats of something not far short of Civil War in the United States.

On top of that, there was a minor skirmish raging in the press about some statistics used to support closing down the country, with angry journalists and politicians banging tables because the number of people projected to die of coronavirus was 1,000 a day rather than 1,500.

Quite right too you might well be saying. If only 1,000 people a day are going to die what’s the fuss? By the end of the year, the population will only have been diminished by an additional 365,000.

Does anyone see a problem here? Some of those 365,000 will be your family members, your friends and, arguably most important of all, your clients.

In any event, the world has been put to rights thanks to a bunch of clever Americans and Germans who between them claim to have created a vaccine that is over 90% effective when sent into battle against coronavirus.

We are now in a quandary, since surely this is time to party and yet the only way we can do so legally is in groups of two outdoors – and it’s getting nippy.

Hold on a minute, perhaps it’s time for a logic check? If it was unsafe to go out of doors or, even worse, pop into the pub for a pint or the local Indian for a samosa and a vindaloo at lunchtime on Monday, then does the fact that somebody thinks they found the perfect vaccine scare the virus off overnight?

There’s no question that if this vaccine lives up to the hype, then at some point in the future we may well be able to begin to live normal lives again.

However, that time is probably at least six months away and quite possibly a year.

Frankly, with where we were at the start of this month, most will accept that there might be a bit of a wait, as long as the vaccine does the business.

The main concern at the moment must be whether it is effective, whether it is safe and quite what it will and will not achieve. The idea of having our hopes raised and then dashed is almost too much to bear.

Assuming that this is as good as it sounds, and the stock market certainly seems to think so, many of our clients’ businesses might survive, which will mean that our own can flourish.

In addition, those of us who rely on tax return work from elderly clients will be heaving a big sigh of relief, since they are the group most threatened by this pernicious disease.

On a slightly different note, one downside is that the Chancellor may seek to raise taxes in an effort to recover some of the borrowing, which has rather got out of hand over the last few months. Even then, there must be a longer-term benefit if those borrowings can be limited as the economy begins to rebalance.

If taxes rise, clients need and appreciate more of our services.

Taking all of this into account, we might need to forego the office party in 2020 but perhaps we can already think about booking the venue for 2021, with a reasonable expectation that we will be permitted to fill the room and all sit at the same table.

Replies (1)

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By ireallyshouldknowthisbut
16th Nov 2020 14:44

Surely it will be "over 50's only" on the invite.

Everyone else is can just die as they are less likely to vote Blue.

I think that is the official policy?

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