I have to confess I am a dog person. Cats don’t really do it for me, but this blog applies to all of us who love pets, particularly rescue ones.

Just over nine years ago, having trawled through the Dogs Trust and Battersea Dogs Home websites in vain, looking for a suitable rescue dog for a London home, we signed up to Labrador Rescue, South East. More months passed and nothing. In frustration we put our name down for a puppy and then the call. There was an excitable brown Labrador called Rollo who apparently would be perfect for us. He was 5 years old, and his first owners could no longer cope with him. Separated from his brother he was badly in need of a secure long-term home and lots of affection.

We arrived at the foster home where Rollo was being kept temporarily and the rest as they say is history. Bursting with energy, unused to any form of controlled walking on a lead and heavily overweight, he threw himself at us. His need for attention was overwhelming. We filled in forms as to our suitability as a dog owner, our house was inspected and home he came, only on loan mind you (Labrador Rescue are very strict!) but that was it. We never looked back.

Demanding, stubborn, food obsessed, always stoic and somewhat curmudgeonly in later life, owning Rollo was a full-time, but rewarding occupation. In the early days, we trained him, made him fitter and, much to his disgust, slimmer. Losing 15kgs, he looked great after the first 12 months. In fact, neighbours would say to us; ‘what you have done with Rollo is fantastic… my partner is overweight and unfit, any tips?’ Our reply was daily long walks on a lead and restricted helpings of food in a bowl in the corner of the kitchen. Umm…perhaps not so helpful… But the quality of Rollo’s life improved massively and, in the end, got him to a fine old age where he could be stoic and curmudgeonly!

He was also vulnerable, increasingly so in later life, but it was a privilege to keep him protected. Rollo was not burdened with too much common-sense whether it was in relation to traffic, falling into canals, snuffling out rotten food, taking on dogs which were far too aggressive for him etc. etc. Then, unfortunately, he suffered all the problems of a pure breed Labrador, in particular early onset arthritis, stomach problems exacerbated by his anti-inflammatory drugs to keep him mobile, and finally an enlarged heart. Numerous trips to the vets and a few hospitalisations later, his medicine cabinet was larger than that of an average pharmacist. The vets said he probably wouldn’t make 10 but we got him to 14 and they were as chuffed as we were.

Lastly, his contradictions. We thought he only loved his owners for the food. He would walk up to complete strangers as if they were his long-lost friend, making you feel somewhat sidelined. He would sulk in spectacular fashion, sitting with his back to us for hours, particularly if he felt a few more scraps from the table should have come his way. Yet, wherever we were so was he. Outside, seemingly oblivious to his surroundings, he would mooch but panic if he couldn’t see us. Inside, he was our shadow, even in old age barking to demand we helped his wobbly legs get him downstairs so that he could join us in the kitchen. And last thing at night, if he was in the mood, even towards the end, nothing but nothing could stop him climbing 3 flights of stairs and bursting through the bedroom door so that he could sleep (and snore!) close to us.

Sadly, Rollo passed away of a heart attack on Wednesday, aged 14, falling asleep for the last time. It happened at the vets where he was being treated for a stomach infection, so he was in good hands to the end. Needless to say, whilst not wholly unexpected, we were devastated.

Rollo could be frustrating and was always high maintenance, but we never regretted a moment of our time with him. We rescued him when he was no longer wanted and gave the lad a safe, loving home. His very presence was a source of fulfilment to all who knew him and he was quite the local celebrity. One hopes that somewhere else he is now running pain free on perfect joints with endless supplies of food.

As lockdown ends and there are many unwanted dogs bought in haste requiring a new home, our advice is go and rescue one. You won’t regret it.

Rishi Sunak is a class act. His budget was delivered perfectly. His handling of yesterday evening’s press conference consummate. This morning’s performances clear and resolute. On top of the detail, fluent and modest, he was convincing in having his cake and eating it. He pledged support for levelling up, public services generally and encouragement for business and future entrepreneurs through incentives for investment, green technology, the creation of freeports etc. How refreshing a contrast to the Prime Minister. ‘Honest Rishi’ certainly beats a dissembling Johnson.

And yet we know there is pain to come. It is spend now and pay later and, as this plays out, the concept of ‘levelling up’, already under pressure, will buckle. There are obvious reasons for this and more subtle ones.

First, the obvious ones. The government will have spent some £400bn on cushioning the impact of the pandemic through highly sensible measures from furloughing, small business loans, and grants to businesses particularly hard hit by lockdown. At an individual level, benefits have been topped up, the self-employed have received assistance, even evictions from rented accommodation were suspended, to list a few initiatives. But the universal credit increase is due to end in September, furloughing will wind down, leaving the scars of higher unemployment and some small businesses will simply never recover. Many public sector wages will remain frozen and initiatives to move some government activity up North feel like window dressing. In several respects, one can argue ‘tough’. The government cannot continue supporting the economy and individuals at this level for ever. Something has to give if you are to avoid an entirely socialist model of governing or, even worse, a collapse in the impact and credibility of endless government debt. This is a reasonable argument.

The more subtle reasons for ‘levelling up’ faltering and disparities of wealth growing are due, however, to the same policies that have been in place since 2008 to manage economic shocks; huge monetary easing. The unintended consequences of such actions, essentially pumping vast amounts of money into the financial system through government bond buy-backs and maintaining low, almost zero interest rates, have created huge asset bubbles which have continued throughout the pandemic. These are partly exacerbated by some additional poorly-directed government largesse in areas such as housing.

The evidence during this Covid crisis is stark. The economy is awash with cash allowing cheap borrowing. Stock markets rose globally by some 10% in 2020. Property prices have risen, despite the crisis, fueled by housing shortages and stamp duty holidays. Covid business loans have not always been used appropriately but to finance takeovers, for example, and that is before one considers fraud with some £20 billion estimated to have gone missing. Targeted austerity in relation to public services in the UK may be over, but it will not offset accelerating disparities of wealth. If you have investments and own your own home, you will be doing well regardless of the pandemic, just like you have been doing since the economic crash of 2008. If you do not, then you will be struggling and that is before you consider the additional wealth gap across generations.

This is a global phenomenon not simply a domestic one. An article in yesterday’s FT highlighted the fact that the Federal Reserve stimulus has made private equity executives, who are some of the richest people on Wall Street, even richer as they have received hundreds of millions of dollars in payouts despite a struggling US economy. This is before a proposed US$1.9 trillion Covid stimulus package, which, whilst necessary in parts, will inflate asset prices further. If all this fuels a return to inflation which is highly possible, guess what this has historically always done, exacerbated disparities of wealth…

On balance, this budget does not stand up to the ‘levelling up’ test if the aim is to reduce overall disparities of wealth absolutely and across regions. Whilst the government has introduced many sensible measures to mitigate the impact of the pandemic, it will not counteract and may even add to the unfortunate side-effects of long-term policy largesse.

One thing is for sure. Recovering from Covid will be as tricky as Covid itself.