Brendan Burgess
Founder
- Messages
- 52,118
"We entered this year with a surplus and a rainy day fund"
two assumptions
1) No bilateral deal between UK and EU - will reduce our growth by 3% points
2) Continued presence of the virus next year and no vaccine
Loss of 320k jobs this year - 150k to be recovered next year
disproportionate impact on the young
2021 10 1/2% unemployment
Could be worse.
€20 billion deficit projected this year -
€20 1/2 billion deficit for next year
"Our borrowing is falling!"
Using our savings to meet these challenges is the right approach.
€219 billion national debt by the end of the year.
Significant increase in private savings over the last few months.
We must move back into balance over the next few years.
two assumptions
1) No bilateral deal between UK and EU - will reduce our growth by 3% points
2) Continued presence of the virus next year and no vaccine
Loss of 320k jobs this year - 150k to be recovered next year
disproportionate impact on the young
2021 10 1/2% unemployment
Could be worse.
€20 billion deficit projected this year -
€20 1/2 billion deficit for next year
"Our borrowing is falling!"
Using our savings to meet these challenges is the right approach.
€219 billion national debt by the end of the year.
Significant increase in private savings over the last few months.
We must move back into balance over the next few years.
Last edited: