Should there be a moratorium on interest and dividend payments?

Some economists and politicians have suggested that in response to the coronavirus crisis: Governments should stop paying interest on government bonds, which would make it possible to reduce public debt thanks to inflation; Companies should stop distributing dividends, to involve shareholders in the reconstruction effort. These proposals are ill-considered (we illustrate our point with the case of France). First, no longer paying interest on government bonds would not change much, given the level of interest rates. Second, it is important to note that this interest is paid to a large share of the population, via life insurance and savings accounts, and is a supplement to pensions for the holders of these financial assets. Cancelling the interest on the share of the debt held by non-residents (which includes for example foreign central banks) would trigger a financial crisis; No longer paying dividends would amount to wiping out capital income, which would be an excessive contribution by the holders of capital and much greater than that on labour income. It is important to remember that dividends are paid to all shareholders, including the holders of life insurance contracts, particularly unit-linked policies; employees through employee share schemes; and pensioners with equity portfolios. Why should all these people be deprived of the income on their savings?