Brendan Burgess
Founder
- Messages
- 52,117
We had anticipated Brexit and prepared for it.
But could not have anticipated the economic problems of Covid 19
We are entering a new phase
We will repair our public finances
We remain
We are forecasting €240 billion of debt next year with a real risk of "it being more than that" (I am not sure what he actually said.)
€50k for every man woman and child in the country
Covid adjusted unemployment rate <10%
By year end it will be just over 8%
Next year to fall to 6 1/2 %
€87.6 billion spending next year
Over the next two budgets we will repair our public finances
4.6% growth in expenditure.
By 2022, we will only be borrowing for capital spending.
We entered the crisis with a Budget Surplus
Forecast budget deficit €21billion for this year and next year (down 40% on an earlier forecast)
106% to 99% to 90% in 2025 - Borrowing as a % of income
So we are reducing our overall borrowing
But could not have anticipated the economic problems of Covid 19
We are entering a new phase
We will repair our public finances
We remain
We are forecasting €240 billion of debt next year with a real risk of "it being more than that" (I am not sure what he actually said.)
€50k for every man woman and child in the country
Covid adjusted unemployment rate <10%
By year end it will be just over 8%
Next year to fall to 6 1/2 %
€87.6 billion spending next year
Over the next two budgets we will repair our public finances
4.6% growth in expenditure.
By 2022, we will only be borrowing for capital spending.
We entered the crisis with a Budget Surplus
Forecast budget deficit €21billion for this year and next year (down 40% on an earlier forecast)
106% to 99% to 90% in 2025 - Borrowing as a % of income
So we are reducing our overall borrowing
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