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The economic case for UK investment in the Covid-19 pandemic response in 2022

Research reports

Written by Prachi Agarwal, Dirk Willem te Velde, Alberto Lemma, Lucy White

There are significant benefits to the UK economy of investing in the provision of vaccines in poorer countries, through more trade, investment and lower inflation. Estimates suggest that the UK economy benefits £7.7 billion from vaccinating low and middle income countries. Assuming that the UK pays it fair share of £1 billion, alongside other contributors, the returns to investment to the UK are at least 8:1.

Vaccination in sub-Saharan Africa and Latin America would raise UK exports by £1 billion and global vaccination would raise dividends on FDI by £2 billion.

High inflation at the end of 2021, which was above the normal average and much of it likely due to Covid and its responses, has cost poor households in the UK approximately £400 per month.