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They will have been debated at length and by all accounts Borris did not want the economy to shut but a high proportion of the cabinet said they would resign (how true this is I don't know).
I think he has agreed to it but will then evidence it doesn't in fact help and we will go back to herd immunity and just have to accept the mortality rate?
If we consider the mortality rate is 2% of those tested and we believe the actual figure of those infected is 10 x the positive rates then the mortality rate falls but is still high
I guess that every government has to make a value judgement on how many deaths are acceptable, and the implications on the economy from those deaths. I don't think there is any right answer to that. There has to be a stage where enough deaths are going to break the economy anyway.
I am sure people are busy updating the models and have some idea of how well it's working, but we will just have to wait and see, the policy is primarily aimed at slowing down the spread to allow the NHS to better prepare for it, even a small delay is going to help.
I wouldn't draw any conclusions from the mortality/incidence rates you give, apart from us not knowing what these numbers really are, they don't mean anything without knowing how quickly the virus spreads within the population.