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So the Government estimate is that 10% of London and 4% of the UK overall have had Covid.
So c.50k dead /4 = 12.5k deaths per one percent of the population infected so far.
Granted that the most vulnerable will be dying in greater numbers, but if you scale that up to 100% of the population getting it you're actually not far off the reasonable 'worst case' death toll of 1.3 million deaths that the Government were given in February.
Would that indicate that it's not been managed well in these early stages?